Edward Snowden Highlights Bitcoin's Stability Against Berkshire Hathaway's 99.97% Drop.
On June 3, a technical glitch on the New York Stock Exchange caused a nearly 100% drop in Berkshire Hathaway's Class A shares, also affecting trading in Barrick Gold and Nuscale Power. Although the issue was quickly resolved, it caught the attention of the crypto community. Critics of Warren Buffett's previous comments on Bitcoin took the opportunity to highlight the digital asset's stability compared to traditional stocks. Edward Snowden, an outspoken supporter of privacy and cryptocurrencies, has suggested Bitcoin as a more reliable financial instrument, saying, “Bitcoin fixes that.”
Jan3 CEO Samson Mow announced the launch of Monochrome Asset Management's spot Bitcoin ETF (IBTC) on the Cboe Australia exchange. This ETF stands out as Australia's first and only fund that directly holds Bitcoin. The fund is expected to attract approximately $1 billion in inflows. Key features include direct type creation or redemption of shares, allowing investors to exchange Bitcoin for IBTC and vice versa. Additionally, Monochrome has established partnerships with Australian lenders that allow investors to use their IBTC as collateral.
The Monochrome spot Bitcoin ETF distinguishes itself by offering global investors unique opportunities for lending and direct exchange. These features can increase liquidity and reduce borrowing costs compared to traditional means. The ETF's innovative mechanisms can expand market reach and influence by attracting sophisticated investors.
Latest data from Shibburn shows that over 21 million #SHIB tokens were burned on June 3, increasing the burn rate by a staggering 10,990%. This figure marks a significant increase from previous nose rates, highlighting the #SHIB community's aggressive mitigation efforts. SHIB Discord administrator DaVinci recently warned investors against investing money in questionable projects on the ShibaSwap DEX, highlighting ongoing scams related to the yet-to-be-launched TREAT token.
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