Hell Yes, I Bitcoin

[Foxx]

SEC decides not to appeal. BTC ETF forthcoming. Which means, more are coming. Which means, institutional investing is coming like we have yet to see.

 

 

[Foxx]

I can attest to the fact that this is an accurate portrayl

 

[Foxx]

XRP is inflationary

 

[Foxx]

This German Parliament member gets it

 

[Foxx]

BTC has smashed through $40K. Currently at $41,865.61

[Foxx]

This is very troubling

 

[mead107]

Meadcoins would still be allowed 

[Foxx]

Spot Bitcoin ETFs expected in early January!

[Jauronimo]

On 6/29/2023 at 3:19 PM, Jauronimo said:

Blackrock is gaining traction in their bid for the first approved crypto ETF.  The SEC has rejected all applications for crypto ETFs citing a number of arguments the most compelling of which, in my opinion, is crypto exchanges are not regulated.  But Blackrock has a long history of successfully navigating the SEC and obtaining approval.

 

https://www.cnbc.com/2023/06/29/fidelity-joins-the-rush-for-a-bitcoin-etf-following-blackrock-ark-invest-and-others.html

https://www.ft.com/content/1886c3a3-3fb8-411a-b95a-e4667de560d1

 

This is potentially big for the crypto world and opens the door for many investors who want exposure to crypto without dealing with the complication of owning coin and private keys.  Its also very good news for me since I hold a little bit of Grayscale Bitcoin Trust which filed for ETF conversion years ago and has been suing the SEC.  GBTC trades at a discount to net asset value (NAV) of about 30% as of yesterday.  It was closer to 50% when I last bought.  Which means that actual bitcoin held by Grayscale is worth 30% more than a share of GBTC.  Conversion to an ETF would immediately result in a rise to market value.  See the link below for discussion of closed end funds and why they can trade at either a premium or discount relative to the value of the actual assets held.

 

https://grayscale.com/qa-what-converting-gbtc-to-an-etf-would-mean/

 

This is an arbitrage play on successful ETF conversion.  Based on all the activity I think theres a decent chance the SEC approves crypto ETFs.  

 

Graycsale Ethereum trades at a 50% discount to NAV.  I'm also looking at Grayscale Litecoin.

I hope someone else got on board.  Its been a nice 6 months.  And the 6 months prior was just as nice.

[Foxx]

All the while, the median house price has jumped considerably

 

[Foxx]

As BTC approaches its 4th halving in April, it is also approaching its ATH.

[Foxx]

Interesting charting

 

[Foxx]

And as expected, it quickly retreated

 

Next stop... $ix figures.

[Foxx]

Are you ready? 17 blocks 2 go...