The Tell: Bitcoin may have reached a tipping point, if ‘Downtown’ Josh Brown just invested

Early adopter he isn’t. So, when prominent financial blogger “Downtown” Josh Brown announces that he has made an entree into the realm of digital currencies, it may be worth taking notice.

On Wednesday, Brown, a regular contributor on CNBC’s “Halftime Report” and chief executive of New York investment advisory firm Ritholtz Wealth Management, said via Twitter that he made an investment in bitcoin BTCUSD, +1.78% (and he told MarketWatch he’s also looking into bitcoin rival Ethereum too):

I bought my first Bitcoin https://t.co/QION1crgW5

— Downtown Josh Brown (@ReformedBroker) July 18, 2017

Brown’s purchase is part FOMO, fear of missing out, and a recognition that the recent ascent (and subsequent stumble) of so-called cryptocurrencies demand Wall Street’s attention, and should’t be summarily dismissed as newfangled, buzzy, millennial-driven hokum.

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