Vanguard exec describes Bitcoin as a speculative digital toy

John Ameriks, Head of Quantitative Equity at global asset manager Vanguard, has described Bitcoin as being closer to a speculative digital toy than a long-term investment asset. He argued that the cryptocurrency lacks fundamental characteristics such as cash flow from dividends or interest and the potential for compounding returns. Meanwhile, Vanguard began allowing trading of crypto ETFs and some crypto mutual funds on its platform this month.