Vanguard CEO: Bitcoin not a viable store of value, no plans to offer Bitcoin ETF

Vanguard recently published a conversation on its official website between current CEO Tim Buckley and investor Greg Davis. Tim Buckley emphasized that Bitcoin is not a store of value, it hasn't been in the past, and even now, Bitcoin continues to exhibit volatile trends.

ETF pioneer Vanguard withdraws from Bitcoin futures, solidifying its stance against "cryptocurrency" investments

Why Bitcoin ETF is not suitable for long-term investment portfolios?

Tim Buckley stated that the asset classes offered by Vanguard actually have potential cash flows, such as stocks where the users hold the future earnings of a company, and bonds that include interest and principal.

Therefore, both of these assets can be valued, and he does not understand why Bitcoin should be included in the investment portfolio, nor does he know how to evaluate the role of Bitcoin in the investment portfolio.

He concluded:

Bitcoin's volatility is too high. It has not been a store of value in the past, and its volatility remains high now. When the stock market recently plummeted, Bitcoin also fell alongside it. Therefore, it is a speculative asset. It is really hard to imagine why Bitcoin should be included in a long-term investment portfolio.

The good news is that Tim Buckley will retire at the end of the year, and cryptocurrency enthusiasts speculate that Vanguard may undergo a transformation.

Will the pioneer Vanguard CEO's retirement lead to a change in the "no cryptocurrency" investment policy?