Bitcoin ETF will lead to price suppression

[mgray]

As BTC hits $1,600 mark, the SEC is reopening its probe into whether it should approve an ETF backed by bitcoin. In March it nixed the idea, but is now reconsidering it.

My take here

[Atlas]

Erika Jayne - How Many F••ks?

Source: https://youtube.com/watch?v=FXCLDj9tBBM

[bearcow]

Well, the counterargument is if they create an ETF with a big enough market cap for them to effectively manipulate bitcoins price, they also have in turn helped greatly to legitimize it as an alternate form of currency in the eyes of the mainstream investor. I don't think bitcoin is in itself is enough of a juggernaut yet to force their hand to do this. I suspect the Chinese government has more at stake currently as bitcoin is used more strategically by their citizens than it is currently used by most Americans.

[CurEus]

Thanks Mgray I am trying to understand bit coin and this may prove useful in my research

[Gaia]

Paul explain all about cryptocurrency in this thread : https://projectavalon.net/forum4/show...19#post1150819