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re: With Jan 1 approaching...where are you putting your IRA money?
Posted on 12/24/23 at 9:51 am to Billy Blanks
Posted on 12/24/23 at 9:51 am to Billy Blanks
quote:
How? That seems insane.
Demand Catalyst: Conversion to Spot ETF
Supply Catalyst: Halving in April 24
There are other demand catalysts. Regulatory clarity, world wide Bitcoin adoption increasing. There are a dozen BTC Spot ETF applications from BlackRock, Fidelity and other large asset management companies. Once approved they will be trying to buy massive amounts of scarce Bitcoin. Just this week Argentina announced business can be conducted there in Bitcoin, and President Macron said he wants France to be a Bitcoin hub. We are on the verge of worldwide Bitcoin FOMO.
The near term risk is SEC Chairman Gary Gensler pulling the rug out by delaying or not approving BTC Spot ETFs by Jan 10th. The SEC has been behaving like they are approving at least some of the ETF applications. $$$$BlackRock$$$ and $$$Fidelity$$$ have a lot of political influence. There is some risk that is just a head fake, as Gensler and Elizabeth Warren hate Bitcoin and Crypto for political and other reasons.
This post was edited on 12/24/23 at 10:08 am
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