Bitcoin House Money – Winklevoss Bitcoin Trust ETF (Pending:COIN) | Seeking Alpha

It’s pretty easy to get started with Bitcoin. For example, you can go ahead and just use Coinbase. If you want a little bit of diversification, you can grab some Ethereum and Litecoin while you’re getting set up. In a matter of a few minutes, you can hold three different cryptocurrencies.

Of course, if you don’t want to directly hold Bitcoin, or you want to avoid the headaches, you can grab Grayscale Bitcoin Investment Trust (OTCQX:GBTC). You can do that with a brokerage account pretty easily. Although, if you do that, you’ll pay a premium over Bitcoin, which has averaged about 42%. As I’m writing this up, that premium is around 28%.

Us Versus Them

The key point is that many investors, or speculators, are interested in buying. There’s greed and there’s fear of missing out. There’s a growing crowd of people who want to buy.

At the same time, there are investors who don’t like Bitcoin and claim they will never like it, and they will never invest. This crowd likes to talk about how we’re seeing this incredible bubble. That Bitcoin is like a Ponzi scheme, or Beanie Babies, or tulips.

Taken together there appear to be two major camps. There are those who love Bitcoin and want to own it, or they are holding on, or they are adding. These “true believers” are enjoying tremendous gains or they have a strong desire to buy to get incredible gains moving forward. Then there are those who are detractors, with a strong negative bias. Charlie Munger sees Bitcoin as being akin to rat poison.

I see the vast majority of people either “for” or “against” Bitcoin and very few people are undecided. Very few people are simply waiting on the sidelines without an opinion. In other words, those people that are aware of Bitcoin have formed a strong opinion already. Perhaps there’s a middle ground.