Edward Snowden Highlights Bitcoin's Stability Against Berkshire Hathaway's 99.97% Drop.
The cryptocurrency market has witnessed important developments recently.
These include Edward Snowden's statements about Bitcoin, the launch of Australia's first spot Bitcoin ETF, and a huge increase in Shiba Inu nose rate.
Edward Snowden Makes Iconic Bitcoin Statement Amid 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.”
Australian Spot Bitcoin ETF Launched: A Milestone for the Market
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.
