Latest News

Jack Dorsey’s Square Takes Bitcoin To New Heights After His Twitter Resignation

Jack Dorsey’s Square Takes Bitcoin To New Heights After His Twitter Resignation

India takes a step back with Crypto adoption, introduces bill to ban private Cryptocurrencies

India takes a step back with Crypto adoption, introduces bill to ban private Cryptocurrencies

Yay or Nay: Crypto.com Set To Pay $0.7 Billion To Rename Staples Center, L.A

Yay or Nay: Crypto.com Set To Pay $0.7 Billion To Rename Staples Center, L.A

Crypto Is Prohibited For Muslims In Indonesia But There Could Be A Way Out, Says Religious Leaders

Crypto Is Prohibited For Muslims In Indonesia But There Could Be A Way Out, Says Religious Leaders

El Salvador Buys An Additional 420 Bitcoins

El Salvador Buys An Additional 420 Bitcoins

As Bitcoin Ushers In Soft Decline, El Savador's Bukele Can't Wait To 'Buy The Next Dip At A Better Discount'

As Bitcoin Ushers In Soft Decline, El Savador’s Bukele Can’t Wait To ‘Buy The Next Dip At A Better Discount’

Peter Schiff scores Bitcoin ETF approval as reason why the SEC should be abolished Key takeaways Peter Schiff calls for the abolition of the SEC due to Bitcoin futures ETF approval. The gold bull describes the ETF as just another way to "gamble" on Bitcoin. Bitcoin continues to surge even as the ProShares ETF has an impressive first day. Peter Schiff, founder of Europac Funds, who is also a known gold bull and Bitcoin opponent has said that the SEC's approval of a Bitcoin ETF shows a high level of incompetence in the commission. For Schiff, the SEC should be abolished for taking a stance on Bitcoin that passed a message of the government's endorsement of the largest cryptocurrency by market cap as this was bound to help mislead more people into buying Bitcoin. "The SEC's approval of a Bitcoin futures ETF is another reason to abolish the SEC. I have no objection to the ETF. My beef is that Bitcoin pumpers will now use the approval to sucker in more buyers based on the government's supposed endorsement of Bitcoin by approving the ETF," Schiff said in a tweet. Schiff also described the newly available ETF as just a new way to speculate on Bitcoin which he considers to have no real purpose apart from being a speculative asset. "Now there's a new way to gamble on Bitcoin. Anyone buying Bitcoin is gambling. But some gamblers don't want to risk owning actual Bitcoin, so they gamble with Bitcoin futures instead. Now those who don't want to risk buying futures contracts can gamble on a Bitcoin futures ETF." However, the cryptocurrency community has welcomed the arrival of the first Bitcoin futures ETF with much fanfare. This was to be expected as it has been a long time coming -over 8 years of rejected applications. The ProShares Bitcoin Strategy ETF which launched on the NYSE yesterday with the ticker BITO performed so well that it has been billed to have the best day one of any ETF in terms of "natural" by Bloomberg's ETF Specialist Eric Balchunas. According to data from Bloomberg, the ETF hit $1 billion in trading volume on just its first day. It also ended the day with $570 million in assets. The Bitcoin market also surged on the day. Bitcoin is up 3.04% in the last 24 hours and is currently trading at around $64,012. Although in that period too it reached a high of $64,395, the current price sits just 1.3% away from the April all-time high of just under $65,000. Meanwhile, some critics feel that the ETF is likely the worst thing to happen to Bitcoin. According to the pseudonymous investor and analyst Mr. Whale, the ETF is a Wall Street run show with no benefit to people outside of the big investment circles.

China Reportedly Pushing McDonald’s To Accept Its Controversial CBDC

Most People Still Don't Own Bitcoin — Binance CEO CZ

Most People Still Don’t Own Bitcoin — Binance CEO CZ

Renowned Investor Bill Miller Likens Bitcoin To A Ferrari, Compares Gold To Horse-And-Buggy Days

Renowned Investor Bill Miller Likens Bitcoin To A Ferrari, Compares Gold To Horse-And-Buggy Days

US Senate Candidate Advocates For US Government To Buy A Strategic Reserve Of Bitcoin

US Senate Candidate Advocates For US Government To Buy A Strategic Reserve Of Bitcoin

Steve Harvey Is The Latest Face For Solana’s NFT Craze

Steve Harvey Is The Latest Face For Solana’s NFT Craze

eToro CEO Yoni Assia Reveals He Has been buying Bitcoin Since It Was $10 Per Coin — Investment Now Worth $40 Million

eToro CEO Yoni Assia Reveals He Has been buying Bitcoin Since It Was $10 Per Coin — Investment Now Worth $40 Million

Twitter CEO Dorsey Reveals Square is Building An Open Platform To Create A Decentralized Exchange For Bitcoin

Twitter CEO Dorsey Reveals Square is Building An Open Platform To Create A Decentralized Exchange For Bitcoin

Over 200 Bitcoin ATMs to be Installed in El Salvador Ahead Of September's Legal Tender Adoption

Over 200 Bitcoin ATMs to be Installed in El Salvador Ahead Of September’s Legal Tender Adoption

PayPal Now Supports Buying and Selling Cryptocurrencies in the U.K

PayPal Now Supports Buying and Selling Cryptocurrencies in the U.K

Load More