"You will never see a fund from Vanguard on bitcoin," Buckley told CNBC's Bob Pisani on Monday. "We tend to stay away from assets that don't have underlying economic value. They don't generate earnings or cash flows"...bitcoin – its value is based off of scarcity – and an artificial scarcity that's out there," he explained. "It's really tough to imagine where the long-term return comes from other than speculation.
Buckley compared the lack of fundamental economic value in bitcoin to a lack of fundamental value in gold, an asset class which Vanguard also avoids.
Submitted January 23, 2018 at 06:15AM by chak2005 http://ift.tt/2F2YoyA
