Stock Market News Live: Dow Gains 300 Points After Infrastructure Deal Reached

 Stock Market News Live: Dow Gains 300 Points After Infrastructure Deal Reached

Wall Street has been willing to dabble in bitcoin—after all, the Street loves nothing like it loves a buying opportunity—but it’s not going laser-eyes all-in, judging from some of the research reports this week.

On Wednesday, J.P. Morgan strategist Nikolaos Panigirtzoglou waded through the noise of China bans and Elon tweets, and concluded that bitcoin’s real problem is fund flows. Specifically, that they are flowing out, and not in. “More than a month after the May 19th crypto crash, bitcoin funds continue to bleed,” he wrote. “Institutional investors, who tend to invest via regulated vehicles such as publicly listed bitcoin funds or CME Bitcoin futures, still exhibit little appetite to buy the bitcoin dip.”

Well, why aren’t they buying the dip? Goldman Sachs has an answer for that. The firm released an in-depth report over the weekend that concluded bitcoin as an asset class didn’t add any appreciable value to its…

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