About Bitcoin-ETF

I keep trying to understand the logic of the SEC, which indefinitely postpones the approval of Bitcoin-ETF. For a long time there have been no objective arguments for refusal, actually, representatives of the commission don't give any arguments.

The persistence of Mr. Gensler is particularly interesting, given the existence of a court ruling obliging a decision on the application of Grayscale.

It is obvious to me that the SEC decision has nothing to do with the economy, it is a pure policy. And that’s bad, because in this case, politics means lobbying for structures, and therefore unfair competition.

We usually talk about the omnipotence of the SEC, which represents the American state... And this is a mistake - we are not talking about the entire state, but about separate elitist groups.

In all speculation, applicants seem so weak. The guys have applied and sat, waiting...

By the way, among the applicants there is BlackRock with capital of a third of the US GDP. One can certainly speak of a clean economy, but it is impossible to believe that such a serious structure does not have its own lobbyists.

What does that mean?

Perhaps there is a struggle of elite groups. We can only see a small part of the process. Major developments are taking place privately and there will be no formal approval until a final agreement is reached.

Sounds logical, but there is another, perhaps more exotic, option.

What is happening on the market now? Bitcoin is growing exclusively on rumors about the coming ETF, and the SEC is the source of rumors. That is, the commission determines the course dynamics. Let’s imagine that the SEC and applicants (or part of them) act together. There is a beautiful and elegant market warming before the ETF. 

By the way, both options do not exclude the SEC’s interim refusal to approve the ETF with the subsequent fall of the course. However, approval will occur, but the timing is unpredictable.

What is happening is extremely negative. Normal economic process turns into political bargaining. It is unlikely that Satoshi Nakamoto, in offering Bitcoin, anticipated that he would acquire such politicized traits. The freedom of business is changing again to a managed and controlled business.

Another thing is that the nature of Bitcoin will not allow for a long time to maintain such controllability. So, let’s be optimistic!

#BitcoinETF #SECLogic #CryptoPolitics #FinancialSpeculation #BitcoinFreedom