Vanguard Exec Says Bitcoin Is Like 'A Digital Labubu'

Vanguard Group Global Head of Quantitative Equity John Ameriks said Bitcoin lacks the income, compounding, and cash-flow characteristics the firm seeks in long-term investments.

Speaking at Bloomberg's ETFs in Depth conference in New York on Thursday, Ameriks compared Bitcoin to a viral plush toy collectible, calling it a "digital Labubu."

Absent evidence that the technology delivers durable economic value, Ameriks said it is difficult to view Bitcoin as anything beyond speculation.