Bitcoin ETF Inflows Are Finally Returning After a Difficult Summer. Here's Why Bitcoin Is a Buy Right Now.
Sentiment about Bitcoin is improving rapidly.
Overview
After a summer of outflows, capital is flooding back into spot Bitcoin (CRYPTO: BTC) exchange-traded funds (ETFs), and, right on cue, Bitcoin's price has been climbing, reaching nearly $80,000 on Aug. 27. The iShares Bitcoin Trust ETF (NASDAQ: IBIT) has captured most of the inflows. It saw a $693 million burst in the first week of August, and then a whopping $503 million on Aug. 20 alone, making for the best run of inflows since mid-April -- and as of Aug. 27, it doesn't look to be anywhere near over.
Buying Bitcoin now is a favorable proposition for anyone willing to hold it for at least five years. But with the challenges of the last few months still in force, it's worth examining why this rally started and what it means.
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Originally published at www.fool.com.