Robinhood's Weekend Trading Plans Threaten to Strip Away Bitcoin's Unique Edge

Roger McNamee's thesis that Bitcoin has no intrinsic value may be gaining traction as Robinhood, an online brokerage firm, announces plans to offer 24/7 trading for certain U.S. stocks and ETFs.

This move could strip away one of Bitcoin's most distinctive bragging rights: its ability to trade every hour of every day.

The new plan will extend trading hours to include Saturdays and Sundays through an alternative trading system (ATS) called Bruce ATS, backed by PEAK6, Robinhood, and Nasdaq Ventures.

Some argue that weekend trading runs into challenges with major exchanges and professional traders mostly inactive during weekends, causing fewer buyers and sellers, which can widen spreads. This can make weekend traders pay more than they would on a busier weekday.