Binance Square
currency
130,334 views
171 Posts
Hot
Latest
LIVE
LIVE
GuerrierLegendaire
--
đŸ‡”đŸ‡­ Over 40 million Filipinos can now receive instant, zero-fee remittances in local #currency from the EU and the UK through the #Bitcoin Lightning Network 🙌
đŸ‡”đŸ‡­ Over 40 million Filipinos can now receive instant, zero-fee remittances in local #currency from the EU and the UK through the #Bitcoin Lightning Network 🙌
The true line of crypto ecosystemMany projects are already running and created in the crypto world. And for the last ten years since I join with crypto in general I have gained a lot of experience from various cases that have happens. From the small things until the biggest thing, and in essence I draw big conclusions why I feel that the only crypto project that is suitable and very helpful in all respects is only one crypto project that is present and remains the best for me personally. The Bitcoincash is a community that on the basis and core of the struggle and journey of harmony with the meaning of the world economy is really fought for and carried out. Very different from various other projects even though the existence of the project may be in the best order or the top 10 market caps in the crypto world today. One side that I can say in a language that is satisfying rather than unsatisfactory as a user, earner, or a participant in the crypto world and also in terms of financial finance is that the percentage of various projects in the bitcoincash ecosystem is very little to say a project that can harm the users. Meanwhile, other projects that exist in their own ecosystem can be said to have a lot of crime problems that happen from problems of fraud, theft, or misuse of user data. The ecosystem built in the bitcoincash crypto world prioritizes the priority of the user over the priority of the developers. Such as adjustments to the problem of the value of convenience and small costs, which are the main points that must be adhered to by every project that is built within the bitcoincash ecosystem. And as the biggest main value that I really see from the developer's side is the value of patience and moral standards that they display as developers to show their capacity as providers, problem solvers and powerful for everything that is presented. Bitcoincash users are number one in the context of every project developed within the bitcoincash ecosystem in my opinion. And this is very inversely proportional to the condition of projects that are built outside the bitcoincash ecosystem. Where is the adjustment for data problems according to the World Bank Absolute poverty as living with income below USD $ 1 / day and middle poverty for income below $ 2 per day. Greater than the condition of absolute income which can be said outside the poverty line. Especially if it is added from the non-absolute part income condition. The best stage of everything that exists in the bitcoincash ecosystem side is the level of primacy of the value of creating currency as a currency that must be used as a payment system that is legal, easy and reliable compared to fiat currency. And from this, a major contribution to the crypto world should be seen from the thoughts and also the existence of the bitcoincash community in the crypto world. Not only continuing the struggle for bitcoin to be created but also solving major problems in the world economy, both institutional and personal finance. -===- #crypto #bitcoincash #currency #bitcoin #ecosystem

The true line of crypto ecosystem

Many projects are already running and created in the crypto world. And for the last ten years since I join with crypto in general I have gained a lot of experience from various cases that have happens. From the small things until the biggest thing, and in essence I draw big conclusions why I feel that the only crypto project that is suitable and very helpful in all respects is only one crypto project that is present and remains the best for me personally.

The Bitcoincash is a community that on the basis and core of the struggle and journey of harmony with the meaning of the world economy is really fought for and carried out. Very different from various other projects even though the existence of the project may be in the best order or the top 10 market caps in the crypto world today.

One side that I can say in a language that is satisfying rather than unsatisfactory as a user, earner, or a participant in the crypto world and also in terms of financial finance is that the percentage of various projects in the bitcoincash ecosystem is very little to say a project that can harm the users. Meanwhile, other projects that exist in their own ecosystem can be said to have a lot of crime problems that happen from problems of fraud, theft, or misuse of user data.

The ecosystem built in the bitcoincash crypto world prioritizes the priority of the user over the priority of the developers. Such as adjustments to the problem of the value of convenience and small costs, which are the main points that must be adhered to by every project that is built within the bitcoincash ecosystem. And as the biggest main value that I really see from the developer's side is the value of patience and moral standards that they display as developers to show their capacity as providers, problem solvers and powerful for everything that is presented.

Bitcoincash users are number one in the context of every project developed within the bitcoincash ecosystem in my opinion. And this is very inversely proportional to the condition of projects that are built outside the bitcoincash ecosystem. Where is the adjustment for data problems according to the World Bank Absolute poverty as living with income below USD $ 1 / day and middle poverty for income below $ 2 per day. Greater than the condition of absolute income which can be said outside the poverty line. Especially if it is added from the non-absolute part income condition.

The best stage of everything that exists in the bitcoincash ecosystem side is the level of primacy of the value of creating currency as a currency that must be used as a payment system that is legal, easy and reliable compared to fiat currency. And from this, a major contribution to the crypto world should be seen from the thoughts and also the existence of the bitcoincash community in the crypto world. Not only continuing the struggle for bitcoin to be created but also solving major problems in the world economy, both institutional and personal finance.

-===-

#crypto #bitcoincash #currency #bitcoin #ecosystem
LIVE
--
Bullish
Despite the dollar gaining versus other #fiat currencies, Bitcoin trades above $30,000. the information that BlackRock is launching a location Uncertainty was exacerbated by #bitcoin ETF and #SEC cases. After breaking out of a consolidation that resembles a bullish flag formation, the price of bitcoin has increased to a one-year high. As a result, although stabilising since April, the cryptocurrency has reached a fresh higher high, maintaining the bullish bias. Making a pessimistic #wager on Bitcoin while it is trading above $30k is difficult. That is especially true when considering what transpired in the conventional #currency market, where the US dollar gained ground everywhere.
Despite the dollar gaining versus other #fiat currencies, Bitcoin trades above $30,000.

the information that BlackRock is launching a location Uncertainty was exacerbated by #bitcoin ETF and #SEC cases.

After breaking out of a consolidation that resembles a bullish flag formation, the price of bitcoin has increased to a one-year high. As a result, although stabilising since April, the cryptocurrency has reached a fresh higher high, maintaining the bullish bias.

Making a pessimistic #wager on Bitcoin while it is trading above $30k is difficult. That is especially true when considering what transpired in the conventional #currency market, where the US dollar gained ground everywhere.
Will Bitcoin Replace the Peso? đŸȘ™ The #Argentine Peso is in freefall, losing 75% of its value against the US dollar in just a year! To escape the economic chaos, Argentines are turning to #Bitcoin in record numbers. Local exchanges are swamped, with Bitcoin purchases doubling in a week. Is Bitcoin becoming a lifeline for Argentines or just a risky gamble? One thing's for sure, the future of Argentina's #currency is looking shaky, and its citizens are betting on crypto to weather the storm. #Binance #crypto2024
Will Bitcoin Replace the Peso? đŸȘ™

The #Argentine Peso is in freefall, losing 75% of its value against the US dollar in just a year!

To escape the economic chaos, Argentines are turning to #Bitcoin in record numbers. Local exchanges are swamped, with Bitcoin purchases doubling in a week.

Is Bitcoin becoming a lifeline for Argentines or just a risky gamble? One thing's for sure, the future of Argentina's #currency is looking shaky, and its citizens are betting on crypto to weather the storm.

#Binance
#crypto2024
LIVE
--
Bearish
#bitcoin gains legal recognition as a digital currency in #Shanghai , China _The Shanghai Second Intermediate People's Court in China has reportedly recognized #bitcoin as a unique and #non-duplicable digital asset, recognizing its scarcity and inherent value. The Chinese court issued a report on September 25 discussing the development of Internet technologies. The report noted that as Internet technology develops, digital currencies, such as Bitcoin, emerge as unique and non-replicable. The report also noted that among a sea of ​​virtual currencies, Bitcoin is unique and different from other digital assets. In addition, the report highlighted some of Bitcoin's unique characteristics, including its relative scarcity and ownership attributes. The report also noted that Bitcoin inherits key #currency features, such as scalability, ease of trading, storage, and payment. $BTC Follow us to see more news and details đŸ˜âŹ‡ïžđŸ’”đŸš€đŸš€
#bitcoin gains legal recognition as a digital currency in #Shanghai , China

_The Shanghai Second Intermediate People's Court in China has reportedly recognized #bitcoin as a unique and #non-duplicable digital asset, recognizing its scarcity and inherent value. The Chinese court issued a report on September 25 discussing the development of Internet technologies. The report noted that as Internet technology develops, digital currencies, such as Bitcoin, emerge as unique and non-replicable. The report also noted that among a sea of ​​virtual currencies, Bitcoin is unique and different from other digital assets. In addition, the report highlighted some of Bitcoin's unique characteristics, including its relative scarcity and ownership attributes. The report also noted that Bitcoin inherits key #currency features, such as scalability, ease of trading, storage, and payment.

$BTC

Follow us to see more news and details đŸ˜âŹ‡ïžđŸ’”đŸš€đŸš€
A digital currency rises by more than 70% and reaches its highest level in years. _One of the digital #currencies , the #LOOM digital #currency , succeeded in recording strong profits in the digital currency markets during today’s trading, rising by approximately 70% and reaching its highest level in several years, specifically since 2018. $LOOM #follow To see more news and details about digital currencies đŸš€âŹ‡ïžđŸ™đŸŒ
A digital currency rises by more than 70% and reaches its highest level in years.

_One of the digital #currencies , the #LOOM digital #currency , succeeded in recording strong profits in the digital currency markets during today’s trading, rising by approximately 70% and reaching its highest level in several years, specifically since 2018.

$LOOM

#follow To see more news and details about digital currencies đŸš€âŹ‡ïžđŸ™đŸŒ
US foreign currency debt ratings being downgraded, but the negative impact should not be long-lasting đŸ€š To further ‘rub salt in the wound’, Fitch Ratings announced after the market-close that it has cut its long-term foreign-currency issuer rating on the US to AA+, stating “the repeated debt-limit political standoffs and last-minute resolutions have eroded confidence in fiscal management”.  While the headlines sound ominous, we would caution against any over-reaction against the headlines, as the S&P’s last rating cut back in 2011 actually led to a drop in US yields and a rise in the USD as a counter-intuitive “flight to quality” reaction. We would be surprised to see any lingering and negative price impact on bond yields from this action alone. #US #currency #debt #market #USD
US foreign currency debt ratings being downgraded, but the negative impact should not be long-lasting đŸ€š

To further ‘rub salt in the wound’, Fitch Ratings announced after the market-close that it has cut its long-term foreign-currency issuer rating on the US to AA+, stating “the repeated debt-limit political standoffs and last-minute resolutions have eroded confidence in fiscal management”.  While the headlines sound ominous, we would caution against any over-reaction against the headlines, as the S&P’s last rating cut back in 2011 actually led to a drop in US yields and a rise in the USD as a counter-intuitive “flight to quality” reaction. We would be surprised to see any lingering and negative price impact on bond yields from this action alone.

#US #currency #debt #market #USD
#bitcoin price forecast BTC: between the Securities Commission and the #US government. #_Theprice of Bitcoin (Bitcoin-BTC), the largest digital #currency by market capitalization, fell below $27,000 in the early morning hours of Wednesday, with a decrease of 0.50% to reach $26,220, and this coincides with the total market capitalization of the crypto sector reaching 1.05. $1 trillion, a decrease of 0.46% over the past 24 hours, as the weak performance of Bitcoin (BTC) and Ethereum (ETH) cast a shadow over the digital currency market in general. $BTC #follow To see more news and details đŸ’”âŹ‡ïžđŸ™đŸš€
#bitcoin price forecast BTC: between the Securities Commission and the #US government.

#_Theprice of Bitcoin (Bitcoin-BTC), the largest digital #currency by market capitalization, fell below $27,000 in the early morning hours of Wednesday, with a decrease of 0.50% to reach $26,220, and this coincides with the total market capitalization of the crypto sector reaching 1.05. $1 trillion, a decrease of 0.46% over the past 24 hours, as the weak performance of Bitcoin (BTC) and Ethereum (ETH) cast a shadow over the digital currency market in general.

$BTC

#follow To see more news and details đŸ’”âŹ‡ïžđŸ™đŸš€
Meter.io, $MTR is not just another cryptocurrency; it's a beacon of stability powered by a unique energy-based consensus mechanism. Every $MTR token is tangibly backed by 10 kWh of electricity, ensuring a stable purchasing power superior to fiat currencies.  Meter's smart design allows for an elastic response in block rewards based on miners' activity, constantly adjusting to maintain the value of $MTR. Meter.io's financial acumen doesn't stop there. The platform also features a revolutionary on-chain auction for $MTRG, which serves to buffer any excess $MTR from the market, continually nudging the price back to its sustainable range.  In essence, $MTR embodies a non-dollar-pegged metastablecoin, steadfast in its value thanks to the ingenious coupling of mining activity with real-world energy costs.  #MTR #energy #currency #Consensys
Meter.io, $MTR is not just another cryptocurrency; it's a beacon of stability powered by a unique energy-based consensus mechanism.

Every $MTR token is tangibly backed by 10 kWh of electricity, ensuring a stable purchasing power superior to fiat currencies. 

Meter's smart design allows for an elastic response in block rewards based on miners' activity, constantly adjusting to maintain the value of $MTR.

Meter.io's financial acumen doesn't stop there. The platform also features a revolutionary on-chain auction for $MTRG, which serves to buffer any excess $MTR from the market, continually nudging the price back to its sustainable range. 

In essence, $MTR embodies a non-dollar-pegged metastablecoin, steadfast in its value thanks to the ingenious coupling of mining activity with real-world energy costs. 

#MTR #energy #currency #Consensys
File coin was more than 230$ in 2021 now it’s 6.5$ it’s a chance because it is one of popular crypto currency will bullish #bullish #crypto #currency
File coin was more than 230$ in 2021 now it’s 6.5$ it’s a chance because it is one of popular crypto currency will bullish #bullish #crypto #currency
#BlackRock leads #Bitcoin's rise to the 2023 peak...and these are the most profitable alternative currencies. _After starting the week with buyers in control, #bitcoin continued to rise until the end of yesterday's trading, driven by some positive news about exchange-traded funds (ETFs). Bitcoin touches $35,000...what has changed? Bitcoin, which rose by a whopping 12% the day before yesterday, reached its highest value since May 2022, reaching $35,200 . The rise in the largest digital #currency in the crypto market has been attributed to some new developments related to exchange-traded funds (ETFs). On the other hand, the dominance of buyers at the $30,000 level, which is technically considered a crucial resistance level, was a development that encouraged investors. $BTC #follow To see more news and details about digital currencies đŸ’”đŸš€âŹ‡ïžđŸ™
#BlackRock leads #Bitcoin's rise to the 2023 peak...and these are the most profitable alternative currencies.

_After starting the week with buyers in control, #bitcoin continued to rise until the end of yesterday's trading, driven by some positive news about exchange-traded funds (ETFs). Bitcoin touches $35,000...what has changed? Bitcoin, which rose by a whopping 12% the day before yesterday, reached its highest value since May 2022, reaching $35,200 . The rise in the largest digital #currency in the crypto market has been attributed to some new developments related to exchange-traded funds (ETFs). On the other hand, the dominance of buyers at the $30,000 level, which is technically considered a crucial resistance level, was a development that encouraged investors.

$BTC

#follow To see more news and details about digital currencies đŸ’”đŸš€âŹ‡ïžđŸ™
#History #crypto #currency #picoinnetwork # digital Growth Of Cryptocurrency Over Time In less than a decade, cryptocurrency has exploded onto the scene and has grown at an ever-increasing rate. The following section will highlight some of its dramatic growth with snapshots of the decentralized finance landscape at various points in time. Before we get into that, here is a quick overview of the total number of legit cryptocurrencies listed on CoinMarket Cap from 2013 to today: #Coin #Market #Cap from #2013 to #today: Month, Year Number of Cryptocurrencies April 2013 : 7 January 2014 : 67 January 2015 :501 January 2016 :572 January 2017 :636 January 2018 :1,359 January 2019 :2,086 January 2020 :2,403 January 2021 :4,154 January 2022 :8,714 January 2023 :9,002 March 2024 :13,217* * According to CoinGecko
#History #crypto #currency
#picoinnetwork # digital
Growth Of Cryptocurrency Over Time

In less than a decade, cryptocurrency has exploded onto the scene and has grown at an ever-increasing rate. The following section will highlight some of its dramatic growth with snapshots of the decentralized finance landscape at various points in time.

Before we get into that, here is a quick overview of the total number of legit cryptocurrencies listed on CoinMarket Cap from 2013 to today:

#Coin #Market #Cap from #2013 to #today:

Month, Year Number of Cryptocurrencies
April 2013 : 7
January 2014 : 67
January 2015 :501
January 2016 :572
January 2017 :636
January 2018 :1,359
January 2019 :2,086
January 2020 :2,403
January 2021 :4,154
January 2022 :8,714
January 2023 :9,002
March 2024 :13,217*

* According to CoinGecko
Ripple's XRP At $50? Pundits Reveal Possible Trigger Push For This Gigantic Price Milestone Despite an earlier trend of traders selling most altcoins last week, potentially in anticipation of the bankrupt exchange FTX obtaining approval from the bankruptcy court to liquidate its extensive multi-billion-dollar cryptocurrency assets, #XRP continued to chart a course higher towards the week’s end.At press time on Friday, the #cryptocurrency , which finds itself at the centre of an ongoing legal dispute between the US Securities and Exchange Commission (SEC) and #Ripple , was trading at $0.5095, up 6.45% in the past 7 days, after printing four consecutive bullish candles.Meanwhile, while the #crypto market remains uncertain and exhibits mixed reactions regarding future price trends, forecasts concerning XRP’s price trajectory have sparked fervent debates and discussions.The most recent buzz in the crypto-sphere was ignited by none other than crypto influencer Zach Rector, who, on Thursday, September 14, shared his unconventional perspective on XRP’s future via Twitter.“I don’t believe in $10,000 XRP because I believe we have a Currency Reset and Debt Restructuring before achieving such high prices,” Rector tweeted, adding that central banks “might have to reset everything before we even break $50.”Rector’s tweet and question on how high XRP would go before we have a reset raised eyebrows and sparked a flurry of responses on Twitter. One user countered Rector’s perspective, stating, “$10,000 is possible, but that would be assuming that we maintain this disastrous inflation rate, XRP becomes the worldwide cross-border payment #currency of choice with no competition, and Tokenization takes place with at least 10-20% of one of the top 10 markets worldwide utilizing XRP.”In recent months, various pundits have been making bold predictions about XRP. Wells Fargo analyst Shannon Thorpe recently made waves by boldly predicting that Ripple’s XRP could skyrocket to as high as $500 in the next four to seven months. This prediction was grounded in several key factors, including the recent ruling that XRP is not a security and XRP’s potential to compete with established systems like SWIFT, which could drive its adoption and demand.However, not everyone is on board with these lofty predictions. This week, popular crypto analyst “Crypto Eli” tweeted that “Decentralized crypto-assets like XRP cannot be ‘price set’.” According to her, prices result from global market supply and demand, influenced by factors such as trading, sentiment, adoption, news, and liquidity. Regrettably, she highlighted that many predictions, even those made by well-informed individuals, have escalated into what can only be described as baseless price hype, “reaching unprecedented levels.”That said, amidst the contrasting viewpoints within the crypto community, one thing remains evident- XRP bulls, akin to Bitcoin, Ether, and other crypto assets, have steadfastly maintained price resilience. Recently, crypto analyst “Dark Defender” pinpointed critical support levels at $0.46 and $0.39 for XRP, identifying the latter as the ultimate support. If these levels hold, the pundit foresees potential targets of $1.88 and $5.85 in the short term. $XRP

Ripple's XRP At $50? Pundits Reveal Possible Trigger Push For This Gigantic Price Milestone

Despite an earlier trend of traders selling most altcoins last week, potentially in anticipation of the bankrupt exchange FTX obtaining approval from the bankruptcy court to liquidate its extensive multi-billion-dollar cryptocurrency assets, #XRP continued to chart a course higher towards the week’s end.At press time on Friday, the #cryptocurrency , which finds itself at the centre of an ongoing legal dispute between the US Securities and Exchange Commission (SEC) and #Ripple , was trading at $0.5095, up 6.45% in the past 7 days, after printing four consecutive bullish candles.Meanwhile, while the #crypto market remains uncertain and exhibits mixed reactions regarding future price trends, forecasts concerning XRP’s price trajectory have sparked fervent debates and discussions.The most recent buzz in the crypto-sphere was ignited by none other than crypto influencer Zach Rector, who, on Thursday, September 14, shared his unconventional perspective on XRP’s future via Twitter.“I don’t believe in $10,000 XRP because I believe we have a Currency Reset and Debt Restructuring before achieving such high prices,” Rector tweeted, adding that central banks “might have to reset everything before we even break $50.”Rector’s tweet and question on how high XRP would go before we have a reset raised eyebrows and sparked a flurry of responses on Twitter. One user countered Rector’s perspective, stating, “$10,000 is possible, but that would be assuming that we maintain this disastrous inflation rate, XRP becomes the worldwide cross-border payment #currency of choice with no competition, and Tokenization takes place with at least 10-20% of one of the top 10 markets worldwide utilizing XRP.”In recent months, various pundits have been making bold predictions about XRP. Wells Fargo analyst Shannon Thorpe recently made waves by boldly predicting that Ripple’s XRP could skyrocket to as high as $500 in the next four to seven months. This prediction was grounded in several key factors, including the recent ruling that XRP is not a security and XRP’s potential to compete with established systems like SWIFT, which could drive its adoption and demand.However, not everyone is on board with these lofty predictions. This week, popular crypto analyst “Crypto Eli” tweeted that “Decentralized crypto-assets like XRP cannot be ‘price set’.” According to her, prices result from global market supply and demand, influenced by factors such as trading, sentiment, adoption, news, and liquidity. Regrettably, she highlighted that many predictions, even those made by well-informed individuals, have escalated into what can only be described as baseless price hype, “reaching unprecedented levels.”That said, amidst the contrasting viewpoints within the crypto community, one thing remains evident- XRP bulls, akin to Bitcoin, Ether, and other crypto assets, have steadfastly maintained price resilience. Recently, crypto analyst “Dark Defender” pinpointed critical support levels at $0.46 and $0.39 for XRP, identifying the latter as the ultimate support. If these levels hold, the pundit foresees potential targets of $1.88 and $5.85 in the short term.

$XRP
$WLD: Main challenges in achieving world adoptionThe following are the primary obstacles that $WLD must overcome to achieve widespread adoption:Concerns concerning privacy have been raised by Worldcoin's usage of biometric information, notably iris scans, and the company's plans for the data it has acquired.#Worldcoin has drawn the attention of privacy regulators in a number of nations, including Kenya, Kenya, the UK, France, and Germany, prompting inquiries into the project's data gathering and storage practises.Ideological opposition: Detractors claim that Worldcoin's strategy undermines #cryptocurrency fundamental tenants of anonymity, decentralisation, and security by requiring users to cede authority to a "trusted" agent acting outside the purview of a government.Scepticism and building confidence with people who are still suspicious of a centralised global #currency are two challenges facing Worldcoin.Scalability concerns: Worldcoin must address the scalability issues posed by blockchain technology in order to handle the projected high volume of transactions.Worldcoin will need to address these issues and win the trust of users and authorities in order to achieve widespread acceptance.#crypto2023 #Binance

$WLD: Main challenges in achieving world adoption

The following are the primary obstacles that $WLD must overcome to achieve widespread adoption:Concerns concerning privacy have been raised by Worldcoin's usage of biometric information, notably iris scans, and the company's plans for the data it has acquired.#Worldcoin has drawn the attention of privacy regulators in a number of nations, including Kenya, Kenya, the UK, France, and Germany, prompting inquiries into the project's data gathering and storage practises.Ideological opposition: Detractors claim that Worldcoin's strategy undermines #cryptocurrency fundamental tenants of anonymity, decentralisation, and security by requiring users to cede authority to a "trusted" agent acting outside the purview of a government.Scepticism and building confidence with people who are still suspicious of a centralised global #currency are two challenges facing Worldcoin.Scalability concerns: Worldcoin must address the scalability issues posed by blockchain technology in order to handle the projected high volume of transactions.Worldcoin will need to address these issues and win the trust of users and authorities in order to achieve widespread acceptance.#crypto2023 #Binance
What Is a Bitcoin ETF? #bitcoin ETFs allow investors to gain exposure to the leading cryptocurrency without having to actually own it. A bitcoin exchange-traded fund (ETF) lets traders gain exposure to BTC via traditional stock markets, without needing to directly buy or sell the digital asset on a #cryptocurrency exchange. A bitcoin ETF is an exchange-traded fund that specifically tracks the price of the leading cryptocurrency and allows traders to purchase or sell the security on a stock exchange throughout the day. They can be cash-settled or physically settled, meaning investors will receive either fiat #currency or actual bitcoin upon exiting, respectively. ETFs are regulated traditional financial products and can be bought through a number of retail-friendly mobile trading apps, including Robinhood, Trading212, TD Ameritrade and Fidelity. The most popular ones track major stock indexes, such as the Standard & Poor’s 500 Index, or other traditional assets and commodities like oil and gold. Bitcoin ETFs have been a hot topic in the #crypto space for many years, ever since the Winklevoss twins’ “COIN” bitcoin ETF filed with the U.S. Securities and Exchange Commission (SEC) in 2013 was rejected. It was widely believed that a bitcoin ETF would usher in a new wave of institutional investment into the crypto industry, bringing much-needed maturity and stability to the market. Seven years on, however, the SEC still has yet to approve a bitcoin ETF despite dozens of proposals from multiple companies including a second Winklevoss Twin ETF in 2018, one from Bitwise, five from Direxion, two from GraniteShares and many more. The main arguments given by the SEC for these repeat rejections have been that the bitcoin market is too volatile, lacks sufficient surveillance and is too easily manipulated. Things may be about to change, however, as Canada’s financial regulator, the Ontario Securities Commission (OSC), recently approved the world’s first two bitcoin ETFs in quick succession. The Purpose Bitcoin ETF (BTCC) and the Evolve Bitcoin ETF (EBIT) are both physically settled ETFs and have applied to be listed on the Toronto Stock Exchange. TradeBlock, a CoinDesk subsidiary, is the index provider for the Purpose ETF. With the arrival of a bitcoin ETF in North America, many are optimistic the SEC will follow suit soon in the United States especially if Gary Gensler, former commissioner of the Commodity and Futures Commission (CFTC) and MIT blockchain tutor, is confirmed by the U.S. Senate to replace former SEC Chairman Jay Clayton. “My guess is we get an ETF this year,” says Mike Novogratz, CEO of Galaxy Digital and former colleague of Gensler at Goldman Sachs in the late 1990s. Gary taught a class on blockchain at MIT and on crypto. He understands it cold. He’s progressive, right? And progressives broadly are going to go after ... the rent takers. Crypto is not a rent taker... Crypto is trying to disrupt the rent takers.” Bloomberg Senior ETF analyst, Eric Balchunas, tweeted his support for the new bitcoin ETFs, adding, “U.S. usually follows shortly after. Good sign for U.S. bitcoin ETF.” Sui Chung, ceo of CF Benchmarks, also anticipates pressure will now be on the SEC to follow suit. “Now that the OSC has said that if a product is well constructed enough the crypto market is sufficiently mature for these types of financial products, the industry's attention inevitably turns south of the border to the U.S.” $BTC

What Is a Bitcoin ETF?

#bitcoin ETFs allow investors to gain exposure to the leading cryptocurrency without having to actually own it.

A bitcoin exchange-traded fund (ETF) lets traders gain exposure to BTC via traditional stock markets, without needing to directly buy or sell the digital asset on a #cryptocurrency exchange.

A bitcoin ETF is an exchange-traded fund that specifically tracks the price of the leading cryptocurrency and allows traders to purchase or sell the security on a stock exchange throughout the day. They can be cash-settled or physically settled, meaning investors will receive either fiat #currency or actual bitcoin upon exiting, respectively.

ETFs are regulated traditional financial products and can be bought through a number of retail-friendly mobile trading apps, including Robinhood, Trading212, TD Ameritrade and Fidelity. The most popular ones track major stock indexes, such as the Standard & Poor’s 500 Index, or other traditional assets and commodities like oil and gold.

Bitcoin ETFs have been a hot topic in the #crypto space for many years, ever since the Winklevoss twins’ “COIN” bitcoin ETF filed with the U.S. Securities and Exchange Commission (SEC) in 2013 was rejected. It was widely believed that a bitcoin ETF would usher in a new wave of institutional investment into the crypto industry, bringing much-needed maturity and stability to the market. Seven years on, however, the SEC still has yet to approve a bitcoin ETF despite dozens of proposals from multiple companies including a second Winklevoss Twin ETF in 2018, one from Bitwise, five from Direxion, two from GraniteShares and many more.

The main arguments given by the SEC for these repeat rejections have been that the bitcoin market is too volatile, lacks sufficient surveillance and is too easily manipulated.

Things may be about to change, however, as Canada’s financial regulator, the Ontario Securities Commission (OSC), recently approved the world’s first two bitcoin ETFs in quick succession. The Purpose Bitcoin ETF (BTCC) and the Evolve Bitcoin ETF (EBIT) are both physically settled ETFs and have applied to be listed on the Toronto Stock Exchange. TradeBlock, a CoinDesk subsidiary, is the index provider for the Purpose ETF.

With the arrival of a bitcoin ETF in North America, many are optimistic the SEC will follow suit soon in the United States especially if Gary Gensler, former commissioner of the Commodity and Futures Commission (CFTC) and MIT blockchain tutor, is confirmed by the U.S. Senate to replace former SEC Chairman Jay Clayton.

“My guess is we get an ETF this year,” says Mike Novogratz, CEO of Galaxy Digital and former colleague of Gensler at Goldman Sachs in the late 1990s.

Gary taught a class on blockchain at MIT and on crypto. He understands it cold. He’s progressive, right? And progressives broadly are going to go after ... the rent takers. Crypto is not a rent taker... Crypto is trying to disrupt the rent takers.”

Bloomberg Senior ETF analyst, Eric Balchunas, tweeted his support for the new bitcoin ETFs, adding, “U.S. usually follows shortly after. Good sign for U.S. bitcoin ETF.”

Sui Chung, ceo of CF Benchmarks, also anticipates pressure will now be on the SEC to follow suit. “Now that the OSC has said that if a product is well constructed enough the crypto market is sufficiently mature for these types of financial products, the industry's attention inevitably turns south of the border to the U.S.”

$BTC
Explore the lastest crypto news
âšĄïž Be a part of the latests discussions in crypto
💬 Interact with your favorite creators
👍 Enjoy content that interests you
Email / Phone number