Has Bitcoin Gone Mainstream?
Bitcoin mainstream? Barron’s Magazine seems to think so.
#Bitcoin Goes Mainstream. pic.twitter.com/SIfrSj5NQc
— Michael Saylor?? (@saylor) October 23, 2021
The latest cover of Barron’s magazine features the headline “Bitcoin Goes Mainstream.” It’s a pretty bullish headline from a traditional investing magazine.
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- “Goes mainstream” is in reference to the recently launched ProShares ETF, the first of its kind. It’s an interesting idea. Especially considering all the FUD going in about how a futures ETF was too esoteric for retail.
- Daren Fonda and Avi Salzman think no-coiners are feeling the FOMO: “Stock investors may be feeling a tad jealous of their crypto cousins. Bitcoin, the largest cryptocurrency, blew past its record high this past week, reaching new heights around $67,000, up 50% since Sept. 30. Bulls now see a path to $100,000.”
- Barron’s Magazine has a subscriber base of over 900k. That’s digital and print combined.
- This is the fourth time Bitcoin has graced the cover of Barron’s magazine. BTC appeared on the magazine’s cover twice in 2017, and once earlier this year.
- Bitcoin has fallen since reaching its new all-time high of 67k on October 20th. It’s currently trading in the 61k range. The new all-time high was likely on the strength of the ProShares ETF debut, which set a 2 day record for volume.
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