Coin Shares Pushes for Further BTC Investing

In a recently published report, Coin Shares explains that bitcoin is acting somewhat like a “tech stock.” Bitcoin, in its growth phase, behaves like a tech stock.

Much like the tech stocks in question, bitcoin has experienced a massive change in its reputation and in how it’s looked at by common, everyday traders. Research strategist for the firm James Butterfill has pointed out that bitcoin is no longer directly correlated with stocks, but is beginning to mimic the price and behavioral patterns of gold, which is also considered a long-term store of value and much more stable than stock shares.

Timeline of Bitcoin