Bitcoin & Gold: Because Money is Weird

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Bitwise Asset Management, those bright sparks who clearly spend a lot of time worrying about things other people aren’t, have launched the Bitwise Proficio Currency Debasement ETF. Which is a rather grand way of saying “stuff we think will hold its value when everyone else’s money turns out to be, well, not worth very much.” It’s designed for investors who suspect governments might be rather good at printing money but somewhat less adept at, you know, everything else.

Key Takeaways

  • Bitwise launched BPRO, an ETF for people who suspect the universe is trying to tell them something about money.
  • It’s a mix of bitcoin and shiny rocks (and other metals), with a healthy dose of gold, because tradition. At least 25% gold. Rule Number One: Always have some gold.
  • BPRO aims to hedge against the alarming tendency of fiat currency to… erode. As if it were made of sandstone. 

The fund, trading on the New York Stock Exchange under the ticker BPRO (presumably because all the other tickers were taken by funds doing sensible things), is an actively managed affair. Because letting computers decide is so last decade.

It’s a collaboration with Proficio Capital Partners, who’ve been staring at gold and thinking deeply for rather a long time. Together, they’re positioning BPRO as a newfangled hedge, the sort of thing you tell your accountant about after a particularly bad financial dream.

Blending Bitcoin With Traditional Hard Assets

Unlike those boring static commodity funds that just sit there, BPRO can shuffle things around depending on the prevailing levels of panic. It includes bitcoin, alongside gold, silver, platinum, palladium, and mining equities – because why not throw everything at the wall and see what sticks? Gold must make up at least a quarter of the portfolio, because, as stated, tradition.

Bitwise CIO Matt Hougan, who probably hasn’t slept properly since the invention of quantitative easing, suggests that the classic 60/40 portfolio is looking a bit peaky. He argues that pairing bitcoin’s “fixed supply” (which is to say, there’s only so much of it) with gold’s long and storied history of being shiny creates a resilient framework. Resilient against what, exactly? Well, everything, probably.

Proficio CIO Bob Haber agrees, pointing out that even though gold’s been doing its gold thing for centuries, most portfolios barely acknowledge its existence. Apparently, Goldman Sachs appears to have figures saying gold ETFs represent an embarrassingly small proportion of private holdings. Clearly, people are missing out on the subtle joys of owning something that just… sits there.

Why Currency Debasement Is Back in Focus

The fear that your money might not be worth as much as it used to isn’t just a figment of overactive imaginations. The U.S. dollar has been quietly shrinking in value for two decades, while government debt has grown, shall we say, robustly. A survey revealed that financial advisors are increasingly concerned about this alarming trend, ranking fiat debasement as a key theme for 2026. Because planning for the apocalypse is always a good idea.

BPRO is designed to react to this, shifting between metals and digital assets as the situation demands, rather than locking investors into one particular flavor of doom. The managers claim this flexibility is essential in a world where inflation, real rates, and monetary policy change faster than anyone can keep up.

Fund Details and Positioning

The Bitwise Proficio Currency Debasement ETF is now available, should you be feeling particularly adventurous. It has a total expense ratio of 0.96%, which is roughly the price you pay for someone else to worry about the world falling apart for you. It aims to increase your capital when fiat money decides to go on a prolonged holiday.

By combining Bitwise’s digital-asset wizardry with Proficio’s metal-based musings, they’re hoping to attract investors who’ve realised that diversification isn’t always about spreading your risk, sometimes it’s about preparing for the inevitable.

Disclaimer: This article is for informational purposes only, and should be taken with a large pinch of salt. Investing is inherently risky, and you are almost certainly going to lose money at some point. Don’t blame us. Consult a qualified financial advisor, and then ignore them at your own peril.

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2026-01-23 05:00