George Milling-Stanley, Chief Gold Strategist at State Street Global Advisors, believes that the recent surge in Bitcoin may have given investors a false sense of security. Milling-Stanley stated, "Simply put, Bitcoin is an investment seeking returns, which indicates that investors are flocking to Bitcoin for capital gains, not because they see the value or utility of Bitcoin." The launch of options based on spot Bitcoin ETFs last week may be related to this, as options allow investors to bet on Bitcoin's price fluctuations with less cash instead of purchasing Bitcoin itself.