Hi friends,
In the ongoing crypto revolution, we may just have hit the biggest news yet.
The VAST majority of people in the world over the past several years have not gone and would never go through the somewhat painstaking process of setting up a cryptocurrency trading account on Coinbase, opening a cryptowallet, or trading bitcoin futures.
As a result, there's an absolute avalanche of cash, many trillions of dollars, waiting on the sideline in confusion, fear, uncertainty, and doubt for a time when cryptoassets will be more accessible. The fact that most of that money doesn't know it's waiting for this event yet makes no difference. It will wake up to the reality soon enough.
Our job is to get our money there first.
A bitcoin exchange-traded fund (ETF) that regular people can go in their Fidelity or TD Ameritrade account and buy, will unleash an absolute torrent of untapped capital into the cryptocurrency space.
The Winklevoss twins (and others), who made a ton of money on Facebook and other ventures, tried several times over the past couple years to get an ETF approved by the Securities and Exchange Commission (SEC). The fact that they failed was largely due to their lack of prestige and connections in the regulatory world.
One entity, however, that would solve that problem many times over is the Chicago Board Options Exchange (CBOE). The CBOE is OVERFLOWING with regulatory reputation and prestige in finance. In fact, it's one of the world's top few most important financial institutions.
And guess who just filed an ETF application with the SEC? That's right, the CBOE.
It's hard to overstate the importance of this event. It's nearly 100% certain that the SEC will approve this ETF, and most likely this year. That means billions, trillions, of dollars, will rush headlong into the cryptocurrency market -- and cause the market to explode.
The news has gone largely underreported in the media and underappreciated in the market. Bitcoin barely moved from near its recent low under $6000.
And this presents our opportunity. Bitcoin will blow up in reasonably short order, and it will bring the remainder of the crypto universe with it.
Don't just watch it happen. If you don't have any bitcoin, open a Coinbase account or Google "how to buy bitcoin" and absolutely buy some. It's easier than you think, and you're an intelligent, worldly, beautiful person who knows a slam dunk opportunity when s/he sees one. Take advantage of it!
Happy Thursday,
Joe
P.S. Check out the Steemit platform (https://steemit.com/), where you make money for your writing and pics and thoughts. It's the crypto community own-your-own-data solution blasting itself into antiquated dinosaurs of Facebook, Instagram, YouTube, and Twitter, to whom for too long you've been giving away for free all your personal thoughts and memories and dreams.
In fact, I wrote this post on Steemit, and I'll have more to say about it going forward. While you're there, please follow me at https://steemit.com/@jarotondi. Full Steem ahead!
GBTC
Trades at a 49% premium at the moment :)
ETF will def pump bitcoin
I see some thinking otherwise and I respect that but hands down it will double price in a month. Maybe it will borrow from what would have been future growth but it will move much higher😃
Thanks for chiming in @artgirlnyc! Yes, the growth will be massive, I'm not sure the ETF would borrow from future growth since the ETF is one of the necessary and inevitable steps along the way to vast liquidity, which is the source of crypto growth. But either way you're right the trajectory is far, far higher from here, thanks again.
I wouldn’t be yo sure if this. People assuming we’ll jump up 100% cause of this are wrong on my opinion. There will be many games played and short action. I think the futures were the worst thing to happen to bitcoin
Thanks @geneeverettshow for your comment. Yes shorting might happen but there is so much capital on the sideline waiting for a normal brokerage account way to buy that this will open the floodgates for you, for me, for all. The fundamentals are so strong long term for this asset class to explode that all we're really looking for is what will be the catalyst(s). This, in my opinion, is one of the biggest. Thanks again!
I hope I’m wrong!
You got it man, yeah you got it >quote
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