Josh Mandell, a seasoned Wall Street trader known for his expertise in government bonds and short-term options, recently shared insights into his Bitcoin investment.
On May 27, Mandell posted a screenshot revealing a $2.1 million stake in the Bitwise Bitcoin ETF (BITB), showing a modest daily gain of $1,491.80.
In his post on the social platform X, Mandell admitted, “I’ve made some bad choices when deciding how to invest in Bitcoin, but today I’m a Bitwiser.” This suggests he has learned from earlier missteps and now approaches Bitcoin investment with more caution and wisdom.
Bitwise is a leading provider of Bitcoin exposure through a regulated exchange-traded fund. This allows traditional investors to gain access to Bitcoin without directly handling cryptocurrencies or private keys. Mandell’s investment includes 35,000 shares of BITB, bought at an average price of $59.98 per share, with the ETF currently trading at $60.02.
While the daily gain of $1,491.80 might seem small relative to the $2.1 million invested—a 0.07% increase—it highlights Mandell’s cautious stance on Bitcoin as a long-term store of value rather than a quick profit vehicle.
Mandell’s background includes leadership roles at Caxton Associates, a prominent hedge fund specializing in fund management. His public endorsement of a Bitcoin ETF signals growing acceptance of digital assets among traditional finance professionals.
For retail investors, Mandell’s move is another indicator that Bitcoin is gradually becoming part of mainstream finance.
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