Re:$130B wiped off crypto markets in 24 hours
by mule1 on Monday January 24, 2022 @09:14AM
(#30057778)
It's very standard for bitcoin and won't be going away for a while as the asset is still realizing its value across all global liquidity. It's scary and why the SEC dragging their feet on a spot ETF approval i.e. an investment vehicle that a non-crypto fanboy can use (yours truly) is criminal.
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Re:$130B wiped off crypto markets in 24 hours
by dpark on Monday January 24, 2022 @09:37AM
(#30058075)
Yes, it’s truly criminal that the SEC hasn’t approved more ways for speculation in cryptocurrency. It’s not as if an Average Joe can just go out and buy cryptocurrency or something. Can you imagine what the market volatility would be if cryptocurrency proponents were allowed to convince naïve people to invest their money, too?
Re:$130B wiped off crypto markets in 24 hours
by inter_netuser on Tuesday January 25, 2022 @04:54AM
(#30070110)
a SEC approved spot ETF is needed for institutional access, not retail. Several countries have already approved such vehicles, and nobody imploded.
Retail is already all the way in. Institutions have mandates that restrict them to trading venues, types of instruments, jurisdictions (some can only invest domestically, and so cannot use foreign ETFs), and so on and so on.
There is a reason why MSTR was able to raise mountains of debt to buy Bitcoin.
It's all institutional money.
Re:$130B wiped off crypto markets in 24 hours
by immibis on Monday January 24, 2022 @12:45PM
(#30061103)
also, DeFi leverage is not censorable by the SEC
Re:$130B wiped off crypto markets in 24 hours
by wonderwonder on Monday January 24, 2022 @09:49AM
(#30058245)
Not really sure I follow you. You can log into Coinbase, a publicly traded company, create an account with your FDIC-insured bank account and buy crypto in ~5 minutes.
Re:$130B wiped off crypto markets in 24 hours
by dragontamer on Monday January 24, 2022 @10:34AM
(#30058888)
GBTC exists and seems to be tracking BTC's price successfully.