[zepto]

> How do you explain banks and hedge funds putting their money into it?

Banks and hedge funds put money into cigarette companies and arms manufacturers and all manner of scam companies.

Their decisions are based on estimated risks and rewards over different time periods.

Taking a position in Bitcoin doesn’t imply anything about it’s nature or long term prospects.

Only that there is a perceived path to potential gains over a time period known to the investor, and not to us.