Grayscale Bitcoin Trust (GBTC)

[Tenured]

Two things. One - People already do this with applepay and other methods. Two - there are more things you can do with it and more importantly when investing it matters if the idea is plausible enough to catch on and have others want it.

Admittedly when I first invested in bitcoin I did so because at a minimum I knew the idea would catch on and it would be in demand. Now I know more about the underlying technology and it's uses. Consequently I stay in for those reasons.

"Going long" has lots of meanings to different people. It might be simply not day trading or swing trading but getting in at a certain price and getting out after a particular gain is achieved. It may be holding for months or years rather than minutes to some. Sure there is a technical definition of assuming the price will go up and holding for "say a year or longer".

That's not necessarily dumb. It's just a strategy that may be different From your strategy (day trading or not investing at all).

Peace