The #Bitcoin price has dropped below the 200-week moving average, even though 71,000 $BTC were withdrawn from exchanges over the past month.
Don't you think the elite are manipulating the situation?
#Bitcoin could hit $200k+ by 2025, especially if Blackrock's BTC spot ETF is approved!
Here are 6 compelling reasons why it might:
- Blackrock boasts a 99.8% approval rate for ETFs. Only one has been rejected in its history!
- During the 2008 financial crisis, the US government and the Federal Reserve turned to Blackrock for solutions, emphasizing their trust in the world's largest asset manager.
- Blackrock's CEO has become more positive about Bitcoin, referring to it as "digital gold" and endorsing it as a diversification tool.
- Blackrock has already rolled out a private Bitcoin ETF for institutional investors.
- Spot Bitcoin ETFs are already operational in Europe and Canada.
- Notably, other top-tier asset managers like Vanguard and Fidelity have also applied for Bitcoin spot ETFs this cycle.
Sanctioned Russian Billionaire Yevgeny Prigozhin Holds $2.46B in Bitcoin Amidst Crypto Boom in Russia
In 2022, with Russia facing transaction sanctions, many turned to crypto.
Rumors suggest billionaire Yevgeny Prigozhin is the 5th largest Bitcoin holder with 94,643 $BTC.
The court ruled that the SEC was wrong to reject the Grayscale #Bitcoin Spot ETF.
What's next?
Likely all the other Bitcoin Spot ETFs are going to get approved, the question really is when, not if.
This ETF is a fully regulated spot ETF, not a synthetic version. A spot ETF means that every share issued has to be backed on a 1:1 ratio by actual Bitcoin. Given this requirement,
IMO this could be the catalyst for the start of a new bull market.
FULL BREAKDOWN OF THE GRAYSCALE COURT JUDGEMENT
Let's break it down step by step:👇
"This cause came on to be heard...": The matter or case was presented in court for a hearing.
"...on the petition for review of an order of the Securities and Exchange Commission...": The main focus of the hearing was a request (a "petition for review") to reconsider or re-examine an order or decision previously made by the Securities and Exchange Commission.
"...and was argued by counsel.": Lawyers (often referred to as "counsel" in legal contexts) represented and argued the case in court.
"On consideration thereof...": After reviewing and reflecting upon the arguments and evidence presented...
"...it is ORDERED and ADJUDGED...": The court has made a formal decision and issued an order...
"...that Grayscale’s petition for review be granted...": Grayscale's request to have the SEC's order reviewed has been approved by the court.
"...and the Commission’s order be vacated...": The original order or decision by the SEC is nullified or set aside.
"...in accordance with the opinion of the court filed herein this date.": The court's decision aligns with a detailed explanation or rationale (often referred to as the "opinion" in legal contexts) that the court has recorded/written and filed on the mentioned date.
In summary, the court decided to approve Grayscale's request to reconsider an SEC order and, as a result, nullified the original decision or order by the SEC.
💥Twitter (X) Acquires Required License to Add Crypto Payments
X may possibly introduce a cryptocurrency sending and receiving feature to its millions of users worldwide.
Bullish for $DOGE!