⚡️BITCOIN SPOT ETF APPROVED!

📈 The U.S. Securities and Exchange Commission (SEC) has granted approval for the listing of a Bitcoin ETF on all registered national securities exchanges.

🛡️ Approved Bitcoin ETFs will be subject to continuous monitoring and compliance measures to ensure ongoing investor protection.

🤣 Some prankster hackers breached the SEC Twitter account and posted the news. For us crypto enthusiasts, it could have been a new era and an eye-opener for those who don't understand cryptocurrency, considering it a scam.

🙁 Unfortunately, the Securities and Exchange Commission (SEC) did not approve the listing and trading of spot Bitcoin ETFs. Still, for a couple of seconds, everyone believed it. However, some enthusiasts, including Arthur Hayes, believe that after the approval of a Bitcoin ETF, the crypto giant — BTC will die for investors.

💀 The Death of Bitcoin?

📉 "If ETFs, managed by TradFi (traditional finance) asset managers, become too successful, they will completely destroy Bitcoin," wrote Arthur Hayes on his blog on December 23. He noted that the reward for a Bitcoin block will drop to zero around 2140, after which miners will only receive fees for transaction verification.

🛑 "But if there was never another Bitcoin transaction between two entities, miners couldn't afford the energy needed to secure the network," Hayes wrote. "As a result, they would shut down their machines. Without miners, the network will die, and Bitcoin will disappear."

👉 Hayes claims that asset managers like BlackRock are involved in an "asset accumulation game."

💬 "They gather assets, store them in a metaphorical vault, issue tradable securities, and charge a management fee," he wrote. "They don't use what they have on behalf of their clients, which poses a problem for Bitcoin if we look at the possible future from extreme positions."

🌐 However, even if BTC "dies because it's not being used," it creates space for another crypto network to take its place, writes Hayes.

#BitcoinETF💰💰💰 #BTC！ #cryptocrurrency