El Salvador, the first country to adopt bitcoin as legal tender, has been a staunch supporter of the leading cryptocurrency, with its president noting that its existence essentially spells the demise of fiat currencies.
Bitcoin has had quite the roller coaster ride in 2021, reaching an all-time high late in the year. That was helped by the introduction of a bitcoin futures exchange traded fund (ETF) in the capital markets as well as El Salvador's adoption.
Whether crypto supplants fiat currency completely remains to be seen, but El Salvador's president Nayib Bukele is a firm believer in that notion. Bukele took to Twitter to voice his thoughts on the leading cryptocurrency's eventual takeover.
What has been called by international organizations as “The #Bitcoin Experiment”, is nothing more than the world watching how mass adoption changes a country’s economy.
If it’s for the good, it’s game over for FIAT.
El Salvador is the spark that ignites the real revolution.
— Nayib Bukele 🇸🇻 (@nayibbukele) December 23, 2021
El Salvador has other projects in store that are furthering its move to the crypto space. One is its plan to build a bitcoin-funded city, which could highlight the cryptocurrency's ability to spur economic growth in El Salvador.
Getting Bitcoin Futures Exposure
While bitcoin's price has faltered as of late, it has been rallying heading into the final days of 2021. That said, investors erring on the side of increased bullishness in 2022 can look at an ETF such as the Valkyrie Bitcoin Strategy ETF (BTF).
ETF exposure can help investors dip their toes into the cryptocurrency space without having to fully dive into digital currencies, especially if they’re spooked by the recent downturn. ETFs like BTF that expose investors to bitcoin futures can capture the upside in the bullishness of bitcoin without getting exposed to the fluctuating price movements.
BTF is an actively managed exchange traded fund that seeks to achieve its investment objective by investing all or substantially all of its assets in exchange traded futures contracts on bitcoin and “collateral investments.” The fund will not directly invest in bitcoin. Under normal circumstances, the fund will seek to purchase a number of bitcoin futures contracts so that the total notional value of the bitcoin underlying the futures contracts held by the fund is as close to 100% of the net assets of the fund as possible.
For more news, information, and strategy, visit the Crypto Channel.Read more on ETFtrends.com.
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