There’s One Hell of a Narrative Forming Around Bitcoin!
TL;DR
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Hester Peirce (aka ‘Crypto Mother’) spoke a few potential spot BTC ETF on CNBC yesterday morning.
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She stated this a few potential BTC ETF on CNBC: “I have been considering we should always approve one for the final 5 years…So, the logic for why we haven’t has all the time mystified me.”
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This narrative has added roughly $50B to Bitcoin’s market cap prior to now week (see header picture ☝️).
Full Story
Shares, cryptocurrencies – hell, whole market segments…
They’ll reside and die by narratives.
And boy is there a powerful narrative forming within the crypto area!
One that’s firmly centered across the potential approval of a spot Bitcoin ETF.
(Aka: a fund that might permit inventory merchants to purchase Bitcoin through the US inventory market, which might carry a whooole bunch of recent cash into crypto).
This is the information that pushed the narrative into hyperdrive, since yesterday:
Crypto Mother spoke.
Extra particularly, Hester Peirce spoke a few potential spot BTC ETF on CNBC yesterday morning.
This is what you might want to find out about Hester (aka ‘Crypto Mother’):
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She’s a member of the SEC.
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She’s publicly pro-crypto and blockchain tech.
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She has spoken out in opposition to the SEC’s anti-crypto stance.
…and yesterday, Hester stated this a few potential BTC ETF on CNBC:
“I have been considering we should always approve one for the final 5 years…
So, the logic for why we haven’t has all the time mystified me.”
This is the mathematics on all of that:
Lengthy held conviction voiced from a consultant of the federal government company chargeable for approving/denying BTC ETFs.
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Business whispers of such an ETF ‘nearing approval’ over the previous week or so.
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Sufficient of a story so as to add roughly $50B to Bitcoin’s market cap prior to now week (see header picture ☝️).
Is that this narrative based/unfounded?
No idea! All we all know is: it is affecting the market both manner.
