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Rekenthaler Report

The Bull Case for Bitcoin

An observation, not a recommendation.

John Rekenthaler

Oct 25, 2021

Mentioned: ProShares Bitcoin Strategy ETF (BITO) , Valkyrie Bitcoin Strategy ETF (BTF)

The Unloved

Morningstar publishes extensively about environmental, social, and governance investing, believing that the ESG movement has staying power. However, the company has not similarly embraced bitcoin. It is not that Morningstar is actively opposed to cryptocurrencies. Rather, its researchers are not equipped to assess them. Morningstar’s tools, which are derived from traditional investment analysis, evaluate assets that generate cash. Cryptocurrencies do not.

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John Rekenthaler does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.

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