Welcome back to Coin Bureau, the channel that puts you ahead of the herd when it comes to cryptocurrencies and blockchain technology. In this episode, we will be discussing the potential for a Bitcoin Exchange Traded Fund in the United States and why the U.S. dollar is not money.
In the United States, the Securities and Exchange Commission (SEC) has been reviewing a number of applications for a Bitcoin Exchange Traded Fund (ETF) for some time now. A Bitcoin ETF would allow investors to invest in Bitcoin without actually buying the cryptocurrency. The idea is that a trust would be established that would hold the Bitcoin and the ETF would be based on the value of the Bitcoin held by the trust.
However, the SEC has yet to approve any of these applications and there is no indication that a Bitcoin ETF will be approved anytime soon. The SEC has expressed concerns about the lack of regulation and oversight of the cryptocurrency markets and the potential for market manipulation.
Despite the SEC’s reluctance to approve a Bitcoin ETF, there is still interest in the idea. Recently, one of the largest financial institutions in the world, Fidelity Investments, announced that they had filed an application with the SEC for a Bitcoin ETF. It remains to be seen if the SEC will approve this application, but it is certainly a step in the right direction.
On a related note, it’s important to remember that the U.S. dollar is not money. The U.S. dollar is a fiat currency, meaning it is backed by the full faith and credit of the U.S. government. This means that the U.S. dollar does not have any intrinsic value and its value is based on the promise of the government to honor its currency.
In contrast, Bitcoin is a decentralized currency that is not backed by any government or central bank. Instead, it is backed by a network of computers that run the Bitcoin network and process transactions. This makes Bitcoin a much more secure form of money than the U.S. dollar.
So, while the SEC continues to consider the applications for a Bitcoin ETF, it is important to remember that the U.S. dollar is not money and that Bitcoin is a much more secure form of money. Thanks for watching and until next time, stay informed.
