Summary
Vanguard Group Inc., following the conservative investing approach of its late founder Jack Bogle, has decided not to offer Bitcoin exchange-traded funds (ETFs) on its trading platform. This decision has caused uproar in the crypto world, especially after Bogle’s famous warning to “avoid Bitcoin like the plague” in 2017.
Key Points
1. Jack Bogle, the founder of Vanguard Group Inc., famously warned against investing in Bitcoin in 2017, advising people to avoid it.
2. Despite the recent launch of fully fledged Bitcoin exchange-traded funds in the US, Vanguard has chosen to stick to its conservative investing approach, which has sparked criticism from the crypto community.
3. Vanguard’s decision to refuse to offer the new ETFs on its trading platform has caused uproar among investors and has further intensified the debate between traditional finance and the cryptocurrency industry.