ProShares Bitcoin Strategy ETF – BITO
Bitcoin is rallying today up 4.61% when compared to the broader market which is flat. The Nasdaq is up slightly, with small caps leading today’s modest rally. We see this current price range as a long-term buying opportunity to accumulate Bitcoin, as many large wallets including TSLA, and SQ have amassed significant stakes in BTC around this $30,000 price level. In the coming months, we continue to look to build a full position in BITO, which will represent between 10-12% of our cryptocurrency “pure play” portfolio with the opportunity to increase the overall position to “overweight.” BUY ANOTHER QUARTER between 18 and 19.