The Bitcoin ETF Deep Dive PT.3
Date: 01/11/2024
Deep Dive Counter: 8
Good morning everyone, and welcome back to Alkaline Deep Dive! I am your host, AkLi, and wow do I have a bunch to go over.
If you are a new investor, trader, or haven't seen my previous works, you can read them all on Medium! I appreciate all the support I get on these articles, as they take a long time to write and extensive research goes into every one of them. The link to all my large financial articles is in my bio and linked here.
Catching Up
Since our last Deep Dive, I began learning the dark arts of Futures trading, I got a new job, the market rallied incredibly closing in on all time highs, the word "disinflation" began circulating, we soared to over 600 followers, and so so so much more.
What is this Deep Dive about?
Today I am writing about the newly approved Bitcoin Spot ETF, the History of Bitcoin, different stocks I have hand picked to talk about, what I think about Bitcoin and Gold, along with a sprinkle of some SEC tinfoil. At the time of writing, Bitcoin is hovering around $47,000. I will also be listing the ETF's from the CBOE website at the bottom.
(For reference, I will be referring to Bitcoin as Bitcoin or BTC. I will also be referring to Cryptocurrency as Cryptocurrency or Crypto. The $ ammounts I also refrence will be in USD).
How Does Bitcoin Work?
Before we begin, we should talk about how it actually works.
I. First, one will need to open up a cryptocurrency wallet. This can be achieved in numerous ways, but the most common would be through an exchange. Regardless of which exchange you chose, you should always conduct extensive due diligence into any brokerage or investment firm you trust your hard earned money in as a lot of them are not insured and you may very well lose everything. More on that later.
II. Once you have opened up a crypto wallet, you should then learn what a blockchain works and what it means for the security of your investments. A blockchain is a shared public leger which the entire Bitcoin network relies on. All transactions made from wallet to wallet are included on the blockchain and allow for verification from the sender to the reciever, or investment of a token. These blockes are secured with advanced cryptography in order to protect your coins, most notably through the function of private keys.
III. Private keys are used by wallets as a form of security. Bitcoin mentions that a transaction is a "transfer of value between Bitcoin wallers that gets included in the blockchain", so natrually they would need a way of securing these transactions from hackers and others who want your profits. Therefore, wallets will keep a secret piece of data which mathematically proves that transactions come from the owner of the wallet, as a way of maintaining confidentiality, availability, and integrity. The CIA triad. These private keys also stop the transaction from being altered by anyone else, keeping your money to yourself and consistant.
You can read more about how Bitcoin works here:
Part 1: History
In previous Deep Dives, we discussed what Bitcoin is, however I will include them in this part of the Bitcoin Deep Dive series as well with some changes to what was originally written.
I. The BTC, A Peer-To-Peer Electronic Cash System, was first theorized in 2008 as a digital asset which has achieved extreme popularity over the last 1.5 decades. Bitcoin functions on what is known as a blockchain environment. One can also contribute to the Bitcoin ecosystemby way of activily "mining" currency through complex hardware systems.
You can read more specific information from the theory of Bitcoin here:
In the document above, you will learn how transactions work, what Proof-of-Work is, the Network broadcasting and capturing functionalities for transactions and more.
II. "The King of Crypto", originally launched in 2009 by the mysterious Satoshi Nakomoto, did not start out in the favorable opinions of big money or retail investors. Even though in today's markets we are aware of Bitcoin and the millions investors have made from it, back then, Bitcoin was nothing more than a joke to anyone that was trading in the markets. Only a few outsiders and weirdo's recognized the opportunity before them as a revolutionary, and possible alternative, financial instrument and took the iniative by starting to collect cryptocurrency.
III. In 2010, Bitcoin, as you can imagine...or maybe not, never reached the unthinkable price of 1 whole dollar. Topping out at $0.39, no one believed that Bitcoin would go anywhere. As the world tried getting back on its feet after the crash of 2008 and 2009, not a lot of investors and everyday individuals had the ability, let alone spare cash, to spend or invest in "theoretical" and unrealized digital asset. Not to mention the ability to obtain cryptocurrency was much more complicated than it is today.
IV. However, the sub $1 Bitcoin would soon be no longer. On February 9th in 2011, BTC achieved the staggering price of $1 for the first time ever. With news of Bitcoin beginning to circulate the media, it would not take long for the King of Crypto to eventually rise to $10 per coin, $20 per coin, and eventually reaching a high of around $30 per coin. Although BTC was gaining momentum, it came back down throughout the fall and closing just under $5 per coin on the year.
V. Even though the price fluctuated greatly throughout 2011, investors did not lose hope. In 2013, BTC opened on the year at $13 per coin, only to balloon to over $1000 in October and pushing the market cap to $1 Billion for the first time attracting new investors and catching the eye of big money. In February on the year, Coinbase would also report the selling of $1 Million bitcoin at an average price of $22 per coin. Although there was still large amounts of speculation surrounding the legitimacy of the asset, Bitcoin would never see the $5 price point ever again.
Which begs the question, did you buy Bitcoin for those prices back then? Did you hold to where it is now? If you bought 100 Bitcoin for the now mythical price of $5, according to Forbes, you would have experienced an exit profit of $922,018. A 921,918% return. If you sold at the top, you would have closed out with a 1,279,900% return totalling around $1,280,000. If this number makes you shutter at the thought, then you're not alone. Millions of people who bought Bitcoin sold early, and there is never a problem taking profit. So don't feel bad, there are and will be other opportunities out there.
Forbes Calculator:
VI. Although Bitcoin was gaining popularity, 2014 would end up being a tough year for the cryptocurrency. Dropping from over $900 to $300, it would be no surpsise why those who once bought Bitcoin for cheap to sell after experiencing that sort of movement, and can you blame them? BTC would end up signaling a bear market on the year's close. However, it wasn't enough to convince those who believed in it to sell their precious coins. Cryptocurrency enthusiests and early envestors saw through the sherade and averaged down, holding on tight through all the media backlash on cryptocurrency calling those who held "dumb money" for buying more crypto and something from someone no one knew anything about. It went against all the practices of "proper investing", but they continued to buy more anyways, ignoring the advice of others and kept their faith that one day Bitcoin would return to the highs.
VII. And for their patients, they were rewarded. From 2015 to 2017, Bitcoin went from just over $300 to an astronomical peak of around $20,000 per coin. Once again, Bitcoin would go on to set new records, as the price would never return to $1000 ever again.
VIII. From 2018-2020, Bitcoin experienced some turbulance in the form of large volatility in price fluctuation. Falling from $20,000 to $3000 in 2018, Bitcoin would in 2019 around $4000 on the year. As the term "coronavirus" began settling down in everyone's vocabulary, investors began selling their BTC just to afford the essentials. Similar to the selloff in 2008 and 2009, this sparked an opportunity for those willing to take the chance and began opening positions in Bitcoin.
(This was the time where I almost purchased Bitcoin for $4,300 or around that price. As someone who initially wanted to purchase Bitcoin in the early 2010's, I knew now was the time to get invested. However, due to personal finances I could not afford the risk. Especially during a global pandemic where the whole world was shaken up and had no clue what was next, let alone where the stock market, or crypto market for that matter, was headed. I missed the opportunity and everyday I think back to the day where I clutched my savings in my left hand, right hand hovering over the trigger and thinking to myself if I should make the leap of faith and buy a single Bitcoin. If I did however buy Bitcoin, I probably would not have sold it close to the peak, but it would have been amazing to take profit. Oh well.)
IX. And what a smart move that was! As Jerome Powell and the boys at the Federal Reserve kicked on the money printer, Bitcoin soared to a record high of $68,000 in November of 2021. A price where if those who held on from the beginning, or had multiple Bitcoins in their wallet, would turn a life changing profit.
X. Despite the attention of "Bitcoin Millionares" in the news media, Bitcoin was still not seen as having any stable value or as a reliable investment, given the extensive rallies and crashes throughout it's trading career. In the year to follow, Bitcoin dropped nearly 30% in January from $47,000 to $34,000 per coin, around 50% from the all time high. Bitcoin would then fall an additional 37%, totalling 67% from January to November. A 77% drop from the all time high, or a loss of close to $50,000. A tremendous loss, and almost enough to consider everyone to sell and leave the crypto markets all together. And that's just the precentages in change of price!
XI. In the same year, Terra Exchange crashed, crypto-based hedge fund Three Arrows Capital filed for bankrupcy, and FTX collapses after Binance abandons the deal to purchase the struggling crypto exchange, resulting in their eventual file for complete bankrupcy. There were also a multitude of law suits against FTX for not only defrauding investors by spending their money, but for their fraudlent marketing strategies specifically targeting retail investors, spending and losing their investors money without their knowledge, and cooking the books. As mentioned in the previous section, it is important to conduct extensive research on any firm you want to hold your money in, which includes non-crypto trading firms.
Whether you were in the markets, or only watched the news, you don't have to wonder what happened to cryptocurrency. Investors and traders began pulling their money off of cryptoexchanges by either selling or transferring assets from one coin to another. The saying "not my keys not my crypto" began instilling fear in holders of any sort of cryptocurrency, leading investors to believe that this may be the end of Bitcoin and any hope that the SEC would approve of the Bitcoin Spot ETF.
XII. At the end of the year, investors coined the term "Crypto-Winter", believing that crypto was now in an iceage type of stand still. People who once believed in crypto thought that it may never hit all time highs any time soon, investors began selling, and the SEC expressed their discontent with Bitcoin on multiple occasions, pushing off the decision for the Bitcoin Spot ETF further and further. Liquidity in the crypto market traveled back to the lows as many once crypto fotunes vanished, and now there was almost no reason to believe that Bitcoin was a sound investment. But does the story end there? Did I buy Bitcoin at the lows of the last 5 years?
XIII. 2023 began with Bitcoin around $16,000-$17,000 per coin, seemingly stuck in the iceage as it hasn't really moved at all since the previous November. However, market sentiment changed. As bad news rolled out about FTX, Bitcoin actually rose in price. Telling investors that the cryptocurrency community, and Bitcoin, doesn't approve of the way FTX respected the indsutry and world of crypto. Rallying at any news that came out against the now bankrupt firm, Bitcoin lunched from the mid 10,000's, to a Q1 high of $25,000 per coin.
XIV. The Banking Crisis might have been the catalyst Bitcoin needed, but now has a more serious implication. Let me explain. Throught the history of the market, investors have always protected themselves in some sort of fasion from times the market took a downward turn. One of the oldest forms of hedging against a bearmarket, or possible recession, is to invest in Gold. This is because gold is percieved as a safe haven investment during economic uncertainty. While stocks and options experience losses, investors seek out other alternative asset classes. One of those instruments is gold. Often seen as a store of value and means of perserving wealth during brear markets, recessionary fears, or all out recession, gold demand tends to rise while the markets fall.
But what does Gold have to do with Bitcoin?
While it seemed like every month another headline about the failure of a regional bank was hitting the "Breaking News" headlines of news wires, terms like "Wage Price Spiral", "Bank Runs", "Recession", "Higher For Longer", "Bubble", "Sticky", and Jerome Powell's reassurance that "Further Rate Hikes Are Needed" while wearing a purple tie sent markets lower; Bitcoin went up. As a decentralized asset, Bitcoin is not under the control of a single governing body. Which means that even if Jerome Powell takes over 40 seconds to reach the podium, what is said about the economy holds no weight over cryptocurrency. Rate hikes, fear of recession, and banks tightening who they give out loans to might impact a producer's ability to provide goods and services at a price affordable by everyday citizens, Bitcoin, as its own entity which has no earnings report or responsibility to report to the government, is unaffected in this manner. It has no functionality hinderences by the increasing prices of rent or used vehicles, from thousands of layoffs in the tech industry as a result of AI, or by the price of eggs rising to$10 a carton. Bitcoin is its own market, based on demand and current market sentiment. Now, that sound's familiar doesn't it? We'll talk more on that later and why this actually might be a bad thing for BTC and other tokens as well.
XV. In the previous Deep Dive, we talked about the newly anticipated Bitcoin Spot ETF awaiting final approval from the SEC. As of yesterday, January 10th in the year 2024, investors waiting has been concluded. With the announcement of 11 approved Bitcoin ETF's from various hedge funds and firms by the SEC, we can now bask in the making of history as the first day of trading, January 11th (today), goes underway.
Part 2: Today
Phew! If you made it this far, thank you for reading. As you can see, these articles take a lot of time not only to do research for and actually write about, but also to explain in a way that I think investors and traders from all levels of experience in the markets can and would want to read. I try to write in a semi-storytelling manner, sorta like a youtube video or public speech, which the reader might actually find somewhat entertaining, yet also informative and educational. Hopefully you also think so. Anyways, we have more to talk about, so let's get back at it.
The SEC
I. In our other Deep Dives, we talked about the possible stances the SEC might take up leading to the approval of the Bitcoin Spot ETF. From Part 2, we talked about Gary Gensler's, the Chair of the SEC, dissaproval of Bitcoin. He held that opinion before the ETF, and he still holds it now.
II. Before the approval of the SEC, the official X, formally known as Twitter, released a statement of approval for the Bitcoin ETF. That ended up being released by someone without authorization to post on behalf of the SEC and claimed that they were hacked and did not approve of any BTC ETF. Although there was a ton of reasonable doubt about the hacking, the security team at X released a confirmation statement that the SEC account was compromised. This sent Bitcoin flying, but straight back down upon Gary's mentioning of the false report.
III. Although that is a seperate conversation altogether, they did eventually release an official approval of the Bitcoin Spot ETF from 11 firms. Investors weren't suprised though, since the CBOE announced they created ETF's for select hedge fund managers, so no one was as suprised as they would be when the approval hit the tape sending crypto and crypto-related stocks higher by MOC on the day.
Tinfoil
Alrighty everyone, it's that time! Let's take a moment and talk about what the SEC might be up to with the approval of the BTC ETF. As a reminder, tinfoil quite literally means conspiracy. Tinfoil is neither fact based, nor a guarentee of what will actually happen. I could be entirley wrong, and I probably am. When I mention tinfoil, nothing I say should be taken into any consideration when making any sort of financial decision. How you chose to percieve the tinfoil is completely up to you, and how you choose to procede is as a result of your own individual interpretation and everything else completely by you. Okay enough disclaimers, let's put it together.
I. What we know.
- The Chairman of the SEC does not like Bitcoin.
I think it is fair to say that after Gary's remarks that the SEC does not and has not condoned or endorced Bitcoin, that he still isn't on board with the idea. Which is a fair thing to say, given all of our research and understanding of BTC.
- Multiple firms have applied, were rejected, and some ended up being approved for a slot in the Spot Bitcoin ETF filings.
Such as Wisdom Tree, Fidelity, ect.
- The SEC has expressed great distrust in the crypto industry, especially from the FTX collapse.
Since the firm failed, the SEC continues to search for a way to try and regulate crypto. This idea goes against the very fundementals of what cryptocurrency is as a decentralized entity.
II. What we think
- Crytocurrency and Gold
I think the SEC is aware of the current trends of the economy. Bitcoin reacted like Gold would in a bear market, rising as the market went lower and investers losing faith in the traditional ways of storing money in banks and using cash to purchase products. The SEC might want to see what happens with current economic trends to better study what actually moves Bitcoin to test for manipulation. A possible way to argue against Bitcoin should it be taken advantage of with severe price fluctions in the ETF's. It could also be a way to catch big money manipulating the price, since the ETF's should be weighing Bitcoin the most as it has the largest market cap.
Bitcoin relating to gold could also be a bad thing, without the SEC. Where if the markets rally and the economy improves, should Bitcoin become a hedge against inflation or recession, this would actually hurt the price and cause investors to sell.
- The end of crypto exchanges
The SEC may want to see bankrupcies from exchanges that offer crypro trading, such as coinbase. Since most traders trust the instruments offered by the normal stockmarket (trust meaning reliability. CBOE has been in operation for over 20 years), the SEC could have approved of the BTC ETF to see if people sell their coins from crypto exchanges to invest in ETF's which measure cryptocurrency anyways. This would move user deposits from exchanges such as coinbase to other exchanges or funds such as Fidelity or banks. This would really hurt many crypto firm's earnings overall performance if clients who already have accounts in banks and other institutions can now invest in the performance of crypto or Bitcoin for cheaper on the side through ETF's and without the need to move money around.
- Their attempt at regulation
All of the Bitcoin ETF's are regulated by the SEC. Since there is one Bitcoin that no one really understands the value to other than sentiment and demand, along with the "bitcoin could" evaluation, the SEC is not entirley sure how to go about regulating and studing the movement in price. The SEC might use the information they learn to investigate specific firms who have large holdings in BTC, like ARKK or influence like BlackRock.
In summary, the Bitcoin ETF is unlikely to be as a result of peer pressure from big firms. Morelikely there is a game that's now underway, and the SEC has been taking the time since FTX to count the cards and memorize the deck. Now they've delt the cards to the 11 players at the table. Whether its blackjack, poker, or go-fish, the SEC highly desires regulation over cryptocurrency and disapproves of crypto exchanges as well as the idea of crypto all together. I wouldn't be suprised if this isn't the first move, but actually the 5th or 10th move they've made in the game. Whichever the case, the SEC doesn't wan't to be made a fool of and doesn't care who's at the table, how deep their pockets are, or the sea of retail investors making sidebets on the outcome of their game. I think there is a bigger picture to their approval of the Bitcoin Spot ETF and in the end, retail will be the one who takes the losses. Imagine what would happen if coinbase goes under, what does that mean for retail who holds crypto in coinbase wallets? That's my tinfoil. Again, pure speculation. Nothing should be taken seriously.
Companies
We talked about the companies I thought would benifit from the Bitcoin Spot ETF before, however I have different stances about them. I will write a brief summary about them, and I 100% encourage you to do your own research. I will not go in depth on them in this article.
No longer on the list, because there is too much uncertainty around whether their earnings will be good. More research will need to be done, but not enough can be conducted as earnings will be the big factor to pay attention to.
A leading public Bitcoin mining company, and contributes towards the Bitcoin Ecosystem. Although I may not personally invest in this stock, I think there is some potential. I would like to see their next earnings, and how they do with emissions.
Self developer of accelerator mining systems. They are known for optimizing hardware in order to improve effeciency and lower power consumption, making it more affordable for companies to mine Bitcoin. They contribute towards green energy solutions.
Mastercard is a wild card here. In 2022 they introduced "Crypto Source(TM), a program which enables financial institutions to being secure trading capabilities and services to their customers." They have multiple features and charts as well as crypto information through their products you can read about here:
NVIDIA makes the components which are used to mine cryptocurrency. They directly contribute towards the capability of those to mine Bitcoin, and are an affective innovator in their field. Not just with AI, but Crypto might also boost the never ending NVIDIA rally.
No longer looking at as a possible investment.
Cleanspark is a Bitcoin mining company with an energy technology background. Cleanspark is known for using a sustainable energy mix that includes nuclear, hydroelectric, solar, and wind to mitigate environmental impact from mining the stable coin. I am also interested in their next earnings / progress update on achieving their 50 EH/S (exa hash per second, or 50 quintillion hashes per seconmd
No longer considereing as a possible stock which may benifit from the ETF in the long term. Similar to coinbase, I think users may leave the platform. However, I would like to see earnings first before making any assumptions.
Blackrock is one of the big players in the cretion of the Bitcoin ETF, if not the biggest. Blackrock I think would be a good longterm hold for me, but I would like more news from their top analyists about the Bitcoin ETF and how they are doing.
Marathon digital is one of the largest digital asset technology companies in North America and takes pride on their ability to sustainably mine Bitcoin, and support the ecosystem. They play a role in the stability of Bitcoin and blockchain and are in competition with CleakSpark to demostrate which company has faster hashing rates. Again, I would like to see earnings for this company and weigh their contributions towards the Bitcoin ecosystem.
As for all the stocks I have mentioned, whether I think there is an opportunity or not, I want to see their earnings. The ETF's are brand new and I don't have any confidence in placing a larger trade, or taking up a long term position (with maybe the exception of Blackrock), before I see their next earnings report. I think options contracts for these companies may get more expensive than normal as their respective earnings come around due to the Bitcoin ETF approval, however please do your own research. Last time I included charts along with the stocks, however I am leaving it up to you to decide what to do. This time around, the charts could be seen as too influential. Due to the uncertainty of Bitcoin and the ETF's I will not be including them in this article.
Bitcoin ETF and Futures Tickers:
Bitcoin:
ProShares Bitcoin Strategy ETF
ARK Next Generation Internet ETF
Bitwise Crypto Industry Innovators ETF
Valkyrie Bitcoin Miners ETF
VanEck Bitcoin and Ether Strategy ETF
Global X Blockchain & Bitcoin Strategy ETF
Schwab Crypto Thermatic ETF
Simplify US Equity PLUS GBTC ETF
Invesco Alerian Galaxy Crypto Economy ETF
Hashdex Bitcoin Futures ETF
Invesco Alerian Galaxy Blockchain Users And Decentralized Commerce ETF
Bitwise Bitcoin And Ether Weight Strategy ETF
ProShares Bitcoin & Ether Market Cap Weight Strategy ETF
ProShares Bitcoin & Ether Equal Weight Strategy ETF
Bitwise Bitcoin Strategy Optimum Roll ETF
Bitwise 10 Crypto index Fund
Conclusion
Thank you again for reading. I want to also thank everyone for over 600 followers, and apologize for the lack of The Market articles. However, I hope I was able to provide high quality content and be somewhat entertaining lol.
I. Whether Bitcoin rises to 50K or 70K, I think we will see some correction in the price. As the ETF's begin to try and price Bitcoin effeciently, we might see the price come down. This would be seen as normal, since the market is trying to weigh something that has never been "weighed" before. However, I ultimatley think the approval of the SEC is a great thing for Bitcoin, we just need to see what happens as a result of the ability to now "trade BTC" through ETF's.
II. As for the companies, I need to see earnings for all of them. None of what I said should be taken as financial advice. However, I think some of them will see some lower earnings. Maybe not the next report, but the one after. Regardless, do not buy or sell anything I mentioned. Please do your own research. Full disclosure, I have taken a position in Hive. Do I think you should? No.
III. Do I think there is an alterior motive to the SEC's decision? Although part of the tinfoil section, I would be a fool to not consider the possible downsides of the approval. Whether this is the SEC's attempt to regulate and stabalize BTC at their "relistic" price, catch big money off guard, evaluate Bitcoins influence on the overall market or vise versa, or if they want to see some bankrupcies (I say that in an exreme measure. the SEC will never say they hope a company would fail ever) or less user interaction with domestic or foreign crypto exchanges, I think the SEC may have a larger plan for cryptocurrency and it is worth taking into consideration what that might be. I am probably entirley wrong, but as an analyst it is my job to ask questions in a unique approach. Again, tinfoil is pure conspiracy. Nothing is based on 100% fact, and you should not take it or percieve it as factual.
IV. Should you buy Bitcoin, another crypto currency, one of the ETF's or anything related to the current trends surrounding the Bitcoin ETF? That is entirley up to you. In this post, nothing should be seen as financial advice or be taken as a "you should buy" or "this stock will go up", because you definitely may lose money along the way. Trade at your own risk, understand what you are getting into and make a decision based on your own personal goals, finances, and whatever else you base your trades on. None of what I say should influence you, that's not my intent.
To be clear, my intentions are to look at the history of Bitcoin, and provide my contribution towards the conversation of the Bitcoin ETF, the SEC, different companies and how the ETF may affect them and what I need from them to make a financial decision. I could be entirely wrong, so do your own research. There could be other reasons why, the price goes up or down, but for now these are my thoughts and ideas into each stock I have mentioned and Bitcoin. How you choose to act, and perceive this information including future profits and losses is entirely up to you.
In a seperate article I will be going over each of the Bitcoin ETF's and talk about the company which they are apart of. If I were to do it all in this article, I am sure it would be far too long to read and enjoy lol.
I hope you find this information informative and consistent. I enjoyed writing it and I hope everyone has made some cash. We are now trading the second week of the year. Markets are up, crypto is up, and I actually got around to posting another Deep Dive. I would call that a win so far hahaha.
Right now, Bitcoin is a trading at $46,305.57.
Thank you again for reading.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
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Alkaline Analyst
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AGeezy : thank you captain hindsight
AkLiOP : Had my worries posting during after hours, but wow, thank you for all the engagement and shares! :)
AkLiOP : I may do a reupload, or an update. There's some other stuff I want to talk about.
After we posted, the media cought on about what we talked about regarding the complication between Gold and BTC. As well as the SEC's plan at regulation of crypto might not actually be conspiracy anymore. A lot of interesting things happening! Oh, and Vanguard saying they will not trade the BTC ETF (I wonder how long that will last when people pull their money to chase the hype).
A lot of newer developments are unfolding. However, it looks like so far, we've been right on the money. I am happy, but also scared to an extent. Because guess what currency fueles a lot of terrorist organizations? What does the dark web use? And what /how does regulating BTC mean in the conversation of Privacy vs Security? How will it impact anonymity?
How / why did someone who was an economist through the crash of 2008, the scare of the 2010’s, covid, the banking crisis, FTX, and much more, approve of the BTC ETF after all of that, and so soon? Hedge pressure? Who knows? Let’s find out!
Yeah, I got more to talk about with $Bitcoin (BTC.CC)$
73863592 : I love this
mizmo : this is an incredible passage. can you please explain to me how this is going down when Bitcoin is going up? it just does not make any sense