Bitcoin, often seen as a hedge against traditional markets, continues to face scrutiny and debate, especially as economic conditions fluctuate.

In a recent discussion, Roundtable anchor Rob Nelson, David Gokhshtein, Founder and Executive Chairman of Gokhshtein Media, and Jon Najarian, Co-Founder of Market Rebellion, explored the implications of bitcoin in today's financial landscape.

Nelson opened the conversation by acknowledging bitcoin's promise as an alternative investment, especially during times of economic uncertainty. However, he questioned how a recession might impact bitcoin's price, pondering whether its long-term benefits would outweigh short-term volatility.

Gokhshtein agreed, saying that bitcoin should be a part of every American's financial portfolio. Despite his disdain for financial institutions, Gokhshtein conceded that firms like BlackRock and Fidelity might succeed in promoting bitcoin to everyday consumers, potentially filling the gaps left by bitcoin's grassroots supporters.

Gokhshtein also turned his attention to the Federal Reserve's recent actions, expressing frustration with their handling of interest rates and inflation. He argued that the Fed's reluctance to cut rates had caused widespread market dips, suffocating both investors and consumers alike. According to him, a more aggressive rate cut could have instilled confidence and alleviated some of the financial strain felt across the globe.

Nelson then highlighted a common sentiment among crypto enthusiasts: The belief that the introduction of bitcoin ETFs, particularly those backed by major financial institutions like BlackRock, might disrupt the market. Nelson questioned the validity of this argument, suggesting that broader access to bitcoin through ETFs could actually benefit the market rather than harm it.

Najarian responded by rejecting the notion that ETFs are detrimental to bitcoin. He pointed out that the lack of an approved bitcoin ETF in the past contributed to issues like those seen with FTX, where market inefficiencies were exploited due to the absence of a more straightforward investment vehicle. Najarian argued that the approval of bitcoin ETFs could have prevented these problems, offering a more stable and transparent alternative for investors.