Letter #240: Bitcoin - A Spot On The World Stage
Read now to learn how Bitcoin's ubiquitousness increases with every passing day.
Dear Readers,
It's been a long time coming: over 10 years ago, Cameron and Tyler Winklevoss envisioned an “easier” way for retail investors and corporate behemoths alike to get exposure to Bitcoin. In order to reach that goal, they went down the path of trying to launch a Bitcoin spot ETF. Their repeated efforts over the years failed, but we can likely say that they set at least some of the groundwork for the developments of this week – the United States now has Bitcoin Spot ETFs.
In what history may see as a monumental move, the Securities and Exchange Commission, the local regulatory “watchdog”, decided to leave its decade of denials in the past when it approved, not one, but eleven different Bitcoin Spot ETFs, most of which began trading yesterday.
It wasn't a bad day for those ETFs either – reportedly, trading volumes were over four and a half billion in USD terms on just the first day. Their success or failure is of course a story that will continue to be written everyday. Undoubtedly though, people want Bitcoin, and the release and performance of the ETFs is further proof of that.
What once was the playground of cypherpunks and computer experts has become a financial revolution for people of all walks of life and for businesses in every corner of the world.
It's exciting to see how far Bitcoin has come, but perhaps it's even more thrilling to think about where Bitcoin will go in the coming decades. After all, the reality is that we've still only scratched the surface. Most people on the planet still don’t own any Bitcoin, whether a proxy or the real thing. In fact, most people on the planet don't even know much, if anything, about what Bitcoin really is.
While it's true that everyone has to make their own financial decisions – in that, Bitcoin is no exception – many of us, myself included, are trying to spread knowledge of the Bitcoin revolution to people far and wide. If nothing else, Bitcoin ETFs, around the world – and now much closer to home for me – are an additional tool to help us teach people about a better financial path that exists thanks to Bitcoin.
If you haven't even started down that path yourself, perhaps today is the day to take another look. There are more ways than ever before to get involved in Bitcoin.
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This is not financial or business advice. This newsletter and related content are for informational purposes only. Cryptocurrencies and digital assets can be risky. Always do your own research before making any sort of investment.