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I agree with you that there are a few that could do well. My concern for the miners are regulatory penalties for energy usage, the halving affect on mining, costs for new equipment, hedging costs and affects on profitability under GAAP, multiple points of upgrades expense and increases in general costs, plus more…Those issues aside, I only care about 2, even though there are others I follow, with concern being on both their respective balance sheets and access to capital… MARA and then RIOT as a lower case spec… dip buy scale in add. You can almost calendar trade through options these positions as an income generator and play on a longer basis against leaps. IMO
You’re welcome and yes…here’s more:
"The Trust issues and redeems Baskets on a continuous basis."
That's all I needed to read. I'm in.
In the event of a hard fork of the Bitcoin network, the Sponsor will, if permitted by the terms of the Trust Agreement, use its discretion to determine which network should be considered the appropriate network for the Trusts purposes, and in doing so may adversely affect the value of the Shares.
In the event of a hard fork of the Bitcoin network, the Sponsor will, as permitted by the terms of the Trust Agreement, use its sole discretion to determine, in good faith, which peer-to-peer network, among a group of incompatible forks of the Bitcoin network, is generally accepted as the Bitcoin network and should therefore be considered the appropriate network for the Trust's purposes. The Sponsor will base its determination on whatever factors it deems relevant, including but not limited to, the Sponsor's beliefs regarding expectations of the core developers of bitcoin, users, services, businesses, miners and other constituencies, as well as the actual continued acceptance of, mining power on, and community engagement with, the Bitcoin network, or whatever other factors it deems relevant. There is no guarantee that the Sponsor will choose the digital asset that is ultimately the most valuable fork, and the Sponsor's decision may adversely affect the value of the Shares as a result. The Sponsor may also disagree with Shareholders, the Bitcoin Custodian, other service providers, the Index Administrator, cryptocurrency exchanges, or other market participants on what is generally accepted as bitcoin and should therefore be considered "bitcoin" for the Trust's purposes, which may also adversely affect the value of the Shares as a result.
The Trust issues Shares only in Baskets of 40,000 or integral multiples thereof. Baskets may be redeemed by the Trust in exchange for the amount of bitcoin corresponding to their redemption value.
Individual Shares will not be redeemed by the Trust but will be listed and traded on NASDAQ under the ticker symbol "I J." The Trust seeks to reflect generally the performance of the price of bitcoin. The Trust seeks to reflect such performance before payment of the Trust's expenses and liabilities. The material terms of the Trust are discussed in greater detail under the section "Description of the Shares and the Trust Agreement." The Trust is not a registered investment company under the Investment Company Act and is not required to register under the Investment Company Act. The Sponsor is not registered with the SEC as an investment adviser and is not subject to regulation by the SEC as such in connection with its activities with respect to the Trust. The Trust is not a commodity pool for purposes of the CEA, and the Sponsor is not subject to regulation by the CFTC as a commodity pool operator or a commodity trading advisor in connection with its activities with respect to the Trust.
Usually a dialogue has previously taken place between BR and regulators as the precursor prior to formal application. Then the review process commences and roughly 45-90 days, subject to comments and then if all comments are addressed…it should clear for listing shortly thereafter.
I believe it will be rough for the SEC to push back hard against BR’s ETF!
Possible, but I think otherwise…
I believe that massive institutional investment allocations into Bitcoin will take place if BR’s ETF is listed. This will immediately open the floodgates into Bitcoin via the ETF and directly in, because investment and rules/regulations will finally have clarity for institutions and other massive pools of money to diversify into Bitcoin. Contrary to your theory, once rules and regulations are defined by the SEC for Bitcoin (First) and ease of purchase/sales through an ETF, a fixed amount of Bitcoin outstanding, then investment that percentage allocations will take place and retail will follow. Then…
BING BANG BOOM!! Through the roof$$$
The flippers and naysayers shouldn’t be too upset, they can always chant “shoulda, coulda, would of!” Haha
Read This and start thinking … Focus!
https://cointelegraph.com/news/blackrock-bitcoin-etf-trust-good-or-bad-for-btc
YOU’RE 100% SPOT ON!!
Now Godzilla is up to bat!!
FORBESFORBES DIGITAL ASSETS
BlackRock’s Spot Bitcoin ETF Plan Appears To Be A Case Of Perception Bending Reality
Mitchell Martin
Forbes Staff
Cryptocurrencies, Blockchain, Metaverse, NFTs, and a little investing
Follow
Jun 15, 2023,09:01pm EDT
Bitcoin ETF
BlackRock rolls the dice on a bitcoin ETFGETTY
BlackRock’sBLK +2.7% request to register a spot-market bitcoin ETF looks as much like a self-fulfilling strategy as an attempt to gain approval for an investment format that has repeatedly been rejected by U.S. regulators.
The world’s largest money manager, with $9.1 trillion of assets under management at the end of Q1, submitted a preliminary prospectus for the iShares BitcoinBTC 0.0% Trust, late on Thursday afternoon New York time. The exchange-traded fund (ETF) is meant to own bitcoins that are to be held in custody by Coinbase, the largest U.S. crypto exchange.
The Securities and Exchange Commission has insisted that spot bitcoin is not safe enough to be offered to retail investors, although funds based on bitcoin futures are allowed. In denying a request for VanEck to offer a bitcoin ETF in March, the agency said the Cboe division that applied to list the fund had not met requirements that it be “designed to prevent fraudulent and manipulative acts and practices” and “to protect investors and the public interest” because the underlying spot bitcoin market is too opaque.
The SEC’s consistent opposition to spot bitcoin ETFs raises the question of why BlackRock would go through the bother of filing a prospectus for a fund that was bound to be denied. The answer may be that its name, size and traditional finance background would go a long way toward overcoming the agency’s opposition to an inevitable development.
The Best is yet to come!!
??ALERT?? #CryptoCommunity
??The world’s largest Assest Manager w/$8 Trill AUM, Black Rock, has filed for a Bitcoin ETF using coinbase custody.
While they want you to believe crypto is dying + coinbase is getting sued, the guys who have the SEC in their pockets are working behind closed doors to stack more Bitcoin.
What you are experiencing is nothing short of the China’s Bear Market Playbook.
-FUD the market w/bad news
-Force retail to sell ATL {all time lows}
-Build the infrastructure required to accumulate more btc
-Buy BTC at extreme low from scared retail
-Reverse + take back all the FUD that caused the market to flush; in this case, all cases VS Binance + Coinbase will be dropped + they will start promoting crypto again.
??Don’t listen to what they say.
??? Watch what they do.
????Stay vigilant, stay strong.
…. And better stack more $btc ??
Me too
For Sure!!!
The only thing he’s consistent with is patting himself on the back…for nothing!
He should go back to the carnival and read palms, he’s have better accuracy!
Your continued back patting and “nailed it” reminds me of the old tv series…
Fantasy Island!
Clonk You and your coloring books ??
Hahaha
Good Point on the 27,400
Thanks DCAL! Always good to hear different opinions! Appreciate your insight! I know a lot of people on Wall Street and each has a different on basically everything when looking at direction, people and predictions of all sorts. We shall see how Bitcoin plays out. It’s worked great for me so far and I believe there’s vast opportunity left to go!
We shall see…
Who they are advertised to vote for with basically the same lobbyists behind them all! Fact!
You’re absolutely correct Now!
It’s the governments that ruin it for the people, lobbyists and puppet masters!
Legislation Is Coming Within A Year per this story:
https://cryptopotato.com/the-president-will-sign-crypto-legislation-within-12-months-cynthia-lummis-patrick-mchenry-consensus-2023-live/
True and that’s a possibility, but the consequences of rare earth and other manufactured goods needed by US industry/consumers being curtailed even a little, could be disastrous. They could start seeking off massive amounts of US treasuries too and other maneuvers. Big countries have many alternatives as we know to combat each other economically.
We live mostly in a balance. Skew things out of balance and all types of bad things can happen to everyone. Inflation could soar over night along with interest rates skyrocketing…who wins in that economic battle? IMO
I believe this is an ongoing planned pressure tactic against the dollar by China and the US is definitely feeling it. China could be burned how, as this is an economic war? The pressure put on by China to is sphere countries and promises of support to others continues and is accelerating. I’m saying most all leadership in the US can’t address our ballooned debt crisis, ongoing deficit spending and now inflation conditions, with the higher per hour labor component not retreating, but in many areas, increasing due to qualified people shortages. Imagine now the expansion of robots replacing human jobs, as in England by Amazon where legal action is being discussed against Amazon…well as robotics moves on the theory goes there will be a decline in labor costs, then who is going to cover their living costs…as human jobs start diminishing…the tax payer and oh yeah, the dollar. Who do we get it on with and destroy next, the robotics companies, Chat GBT (Microsoft) for taking over millions of future jobs in customer service and so forth or all that advance this type of technology? It’s like saying I’m going down to the water’s edge and shooting a gun into the lake, ocean or pond and saying “there you go, don’t screw with me and leave my dollar alone!” Well, the water being the de-dolarizatoin battle, didn’t change because aside from this metaphor, China and the US are locked in a financial and other serious situations affecting the dollar and all of us, as we know. What we don’t know is the outcome and the resulting decline and mismanagement by Washington of living within its means and massive debt reduction, doesn’t seem likely at this point. So I like Bitcoin for those and other reasons. Wait till interest rates get reduced due to economic fear by the Fed, a couple Bitcoin halvings, more bank collapses or forced mergers, BRICS pushing harder on de-dollarization, our military buildup and debt interest costs spiraling north and much more…think about it! I believe Bitcoin will be much higher over time and this is history repeating as it worked in gold/silver. That’s an economic set of comparable events for another discussion. I agree with you as to higher!
It’s just the when…that’s why charts are useful as to breakout and support lines, not just flipping… that was for you Now!
Best of the Weekend for You All!
Go Kings Go!!
August…Another Brick In The Wall (Sorry Pink F) between the world be walled up against the dollar under China’s direction…
https://news.bitcoin.com/worlds-largest-regional-organization-to-switch-to-settlements-in-national-currencies/
True, but this is fact and do some reading and you’ll see it’s true! Mainstream reported the discount issues, after the fact. Read up!
Great and So! Michael Saylor, Cathie Woods and others didn’t acknowledge doing it…so there’s the difference in trading and arbing one’s positions…
I am an expert in this field and please go look up what I’m saying. It’s been discussed on multiple shows on CNBC, FOXBN, Bloomberg and so forth. You’re right about metrics m, etc. but this is a different situation.
I’m going to be more thorough and less Rah Rah (which is fun) and more factual in my statements. We all can change for the better and I Appreciate your kind comments, truly!! Best of Trading to You and All!!
Thanks Now! You do have some good chart points and I’d like nothing better than all of us having thoughts on breakout and breakdown levels and those do have impacts for everyone as you’ve stated many times, even for long term holders.
Thanks Again!
You have it bassackwards! It’s GBTC selling at a deep discount due to its operations and other potential liabilities affecting its company and is deeply discounted accordingly. It’s not the issue of Bitcoin’s price, but their potential issues with investors and the SEC, etc.
The de-dollarization March continues and the mismanagement of the banks rolls on…
https://theexchange.africa/international-relations/brics-nations-de-dollarization-of-international-trade/
The snowball is rolling for de-dollarization and the integrity of the banking system is waning! Who would keep more than $250k in any small bank now, not knowing the bank’s true liabilities, till it’s too late. This is the dream deal for money center banks with support of the Fed which they control to takeover all deposits over time. A true monopoly IMO. Bitcoin can go to Astronomical numbers! These penny anti flippers who are morons in fundamental analysis, need to flip to make a living, wealth is created by investing and understanding value over time…
When Bitcoin is being tossed out at lower prices I keep adding… piggy bank investors with their roll of nickels giving their idiotic advice says it all, a waste of time. Yes, there is risk, I’ve calculated mine and if right, then it’s a much bigger hit than has happened so far! Good Luck!
Totally on target!!
I agree with your logic!
Not picking on anyone…no one knows absolutely…we all try with our own methods! Good Luck!
Finally, an honest answer!
Fantastic Either Way! Good For You! We ain’t seen nothing yet in a Bitcoin Stellar price move north as adoption and regulation kicks in. Various Central banks are evaluating investment (Switzerland???) hmm and or permitting institutional expansion into Bitcoin…hmm…De-Dollarization??? Hmm…What about when interest rates subside…hmm…election year…hmm…Halving the same year…hmm…London wanting to be the Bitcoin/Crypto Capital of the world…hmm…IMO post the halving and maybe starting soon before, will be startling moves north for Bitcoin that the fearful and sub-morons will miss out on! The flippers almost Always miss the major moves. Appreciate your articles! Thanks Again!
Great post ap! Thanks!
Sub Moronic Prediction!
Shorty Is Screwed!
Intelligent minds know that!
I believe you’re right and more!!
Good Post and nice link! Thanks
Good Night!!
Ka Ching Is RIGHT!!!
See you at the Big Bitcoin Casino after some shut eye!!!
You’re CORRECT-DA-MUNDO!!!
A Hot Table in Vegas is Only left by Losers!! Winners will pull all nightwear as you know!! The odds are Much Better Here!! We’ve got a Win coming here that VERY FEW WILL BELIEVE!!!!
GAME ON MY FRIEND!!!
GAME ON!!!
Luck Be A Lady Tonight!!!
That’s a Good One!!! :))
Who can sleep with a RED HOT TABLE!!!!
Excessive sleep is overrated according to WINNERS!!!!!