Analyst: The recent surge in Bitcoin may give investors a false sense of security

ChainCatcher news, according to Jinshi reports, George Milling-Stanley, Chief Gold Strategist at State Street Global Advisors, believes that the recent surge in Bitcoin may have given investors a false sense of security.

Milling-Stanley stated, "Simply put, Bitcoin is an investment seeking returns, which indicates that investors are flocking to Bitcoin for capital gains, rather than because they see value or utility in Bitcoin." The launch of options based on Bitcoin spot ETFs last week may be related to this, as options allow investors to bet on Bitcoin's price fluctuations with less cash, rather than purchasing Bitcoin itself.