Long-term bitcoin optimism still warranted: Analyst

) has begun to recover some of its losses after logging its worst single-day drop since the FTX collapse. The digital asset has seen large inflows following the SEC's approval of spot bitcoin ETFs. Oppenheimer Executive Director Owen Lau joins Yahoo Finance to give insight into whether investors should be buying into the dip or whether they should be wary.

Lau elaborates on his optimism for the asset:"Over the long term, we are still optimistic because of a couple reasons. Number one, we still see further adoption for spot bitcoin ETF. We are just still in the early innings. Remember, bitcoin is a global phenomenon. So I think BlackRock listed in US and they just listed IBIT, their spot bitcoin ETF in Brazil. So you can tell many of these asset managers can list this product overseas...

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