Winning Portfolio In 2016 — Gold, Treasuries and… Bitcoin
Last year, Ark Invest, a niche ETF company, purchased units of the Bitcoin Investment Trust (GBTC) and made one of its ETF the first to own bitcoin in some form. I’ll admit that I was skeptical, but hedged my skepticism somewhat by saying to treat bitcoin as a lottery ticket. This week’s bitcoin surge — the GBTC is up 34% — leaves the ARK Web x.0 ETF (ARKW) with a roughly 3.5% weight in the bitcoin trust. ARK Invest published a research report earlier this month, in conjunction with Coinbase, calling bitcoin an “new asset class” altogether.