Bitcoin Is The First Pick In CNBC's 'Stock Draft'

Tim Seymour, the founder and chief investment officer of Seymour Asset Management, selected Bitcoin BTC as the first pick in CNBC's 2021 "Stock Draft."

"Talk about a coiled spring," Seymour said Thursday, adding that Bitcoin has pulled back 20% recently. He expects a policy follow-through that will be very supportive of Bitcoin.

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Professional poker player Maria Ho had the second pick in the draft. She picked Amazon.com, Inc. AMZN, but noted that she was planning to pick Bitcoin until Seymour selected the widely popular cryptocurrency.

Price Action: Bitcoin is up 82.65% year-to-date.  At last check Thursday, Bitcoin traded around $52,946.