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

Tim Seymour, the founder and chief investment officer of Seymour Asset Management, selected Bitcoin (CYRPTO: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.

Related Link: You Can Now Buy Bitcoin With PayPal On Coinbase

Professional poker player Maria Ho had the second pick in the draft. She picked Amazon.com, Inc. (NASDAQ: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.