Spartan Mosquito Vows to Accept BTC Payments in the Future
What do mosquitoes and bitcoin have in common? Well, nothing really, though there is a company called Spartan Mosquito – designed to kill and control the population of the nasty little bloodsuckers – that just accepted its first bitcoin payment. Now, it looks like it is on a quest to accept bitcoin and several other cryptocurrencies for all its products and services in the future.
Spartan Mosquito Will Accept BTCThe crypto world is wrought with currencies that were initially designed to serve as payment methods. While they have come across as solid speculative tools or even hedge tools over the past 12 years, their journeys towards the top of the payment ladder have been relatively slow, largely due to their volatility. Bitcoin, for example, is now experiencing one of its harshest volatility spells ever, having recently fallen from about $64,000 per unit down to roughly $34,000 at the time of writing.
Either way, this volatility has prevented bitcoin and its crypto cousins from being taken seriously by most retailers, who have often said “no” when it comes to accepting digital currency payments for goods and services. However, it looks like Spartan Mosquito is doing all it can to change this narrative. The company has unveiled its new “Serve the Underserved” program, which is focused primarily on removing all trade barriers with regions of the globe that could potentially benefit from what it provides, in this case pest removal.
What do mosquitoes and bitcoin have in common? Well, nothing really, though there is a company called Spartan Mosquito – designed to kill and control the population of the nasty little bloodsuckers – that just accepted its first bitcoin payment. Now, it looks like it is on a quest to accept bitcoin and several other cryptocurrencies for all its products and services in the future.
Spartan Mosquito Will Accept BTCThe crypto world is wrought with currencies that were initially designed to serve as payment methods. While they have come across as solid speculative tools or even hedge tools over the past 12 years, their journeys towards the top of the payment ladder have been relatively slow, largely due to their volatility. Bitcoin, for example, is now experiencing one of its harshest volatility spells ever, having recently fallen from about $64,000 per unit down to roughly $34,000 at the time of writing.
Either way, this volatility has prevented bitcoin and its crypto cousins from being taken seriously by most retailers, who have often said “no” when it comes to accepting digital currency payments for goods and services. However, it looks like Spartan Mosquito is doing all it can to change this narrative. The company has unveiled its new “Serve the Underserved” program, which is focused primarily on removing all trade barriers with regions of the globe that could potentially benefit from what it provides, in this case pest removal.
Binance Torches Over 1,000,000 BNB Tokens in Latest Quarterly Burn
The global cryptocurrency exchange Binance continues to torch its own utility token, Binance Coin (BNB), in an effort to maintain the asset’s value.
This week, the exchange completed its 16th quarterly token burn of 1,296,728 BNB worth about $393.67 million, according to a press release.
Binance performs coin-burning events every quarter until it destroys 100 million BNB from circulation – half of the total 200 million BNB ever issued. The exchange burns its own utility token in an effort to reduce BNB supply and potentially increase its value.
Binance chief executive Changpeng Zhao tells his 3 million Twitter followers that the company has also unlocked 16 million BNB tokens, which is part of the vesting schedule for the crypto exchange’s team.
The global cryptocurrency exchange Binance continues to torch its own utility token, Binance Coin (BNB), in an effort to maintain the asset’s value.
This week, the exchange completed its 16th quarterly token burn of 1,296,728 BNB worth about $393.67 million, according to a press release.
Binance performs coin-burning events every quarter until it destroys 100 million BNB from circulation – half of the total 200 million BNB ever issued. The exchange burns its own utility token in an effort to reduce BNB supply and potentially increase its value.
Binance chief executive Changpeng Zhao tells his 3 million Twitter followers that the company has also unlocked 16 million BNB tokens, which is part of the vesting schedule for the crypto exchange’s team.
Improve Your Trading Performance with a Demo Account on Bitop
It’s a great feeling not having to worry about losing your funds while trading digital assets. Most platforms do not offer demo trading for cryptocurrencies, forcing traders to test new trading systems with real money and increasing the risk of losing capital.
Only a few platforms, such as Bitop, have implemented the functionality of a trading simulation, which will allow you to test a trading system or idea without risking real money and improve trading practices using real-time data of connected crypto exchanges. This means that a trader can exchange cryptocurrencies without having a trading account with a particular broker or a crypto exchange.
It’s a great feeling not having to worry about losing your funds while trading digital assets. Most platforms do not offer demo trading for cryptocurrencies, forcing traders to test new trading systems with real money and increasing the risk of losing capital.
Only a few platforms, such as Bitop, have implemented the functionality of a trading simulation, which will allow you to test a trading system or idea without risking real money and improve trading practices using real-time data of connected crypto exchanges. This means that a trader can exchange cryptocurrencies without having a trading account with a particular broker or a crypto exchange.
Bankman-Fried: The Recent BTC Crash Wasn’t That Bad
The recent bitcoin crash saw the world’s number one digital currency briefly trading below the $30,000 mark. At the time of writing, the asset has shot up to about $42,000 per unit, meaning it has gained roughly $13,000 in just a matter of weeks. Things are going better for BTC, and it looks like the crash may be over. According to Sam Bankman-Fried – one of the world’s youngest crypto billionaires – the recent drop could have been a lot worse and played out rather well when compared with past slips.
Sam Bankman-Fried: The Crash Wasn’t That AwfulAs the CEO of FTX, one of the world’s largest digital currency trading platforms, Sam Bankman-Fried knows a thing or two about the price patterns of bitcoin and some of its biggest competitors. In a recent interview, he commented:
There were $20 billion of long positions that probably got liquidated over a weeklong period, but the industry was able to absorb that… The infrastructure and the liquidity in this space held up much better under the liquidations than they did a year ago.
The recent bitcoin crash saw the world’s number one digital currency briefly trading below the $30,000 mark. At the time of writing, the asset has shot up to about $42,000 per unit, meaning it has gained roughly $13,000 in just a matter of weeks. Things are going better for BTC, and it looks like the crash may be over. According to Sam Bankman-Fried – one of the world’s youngest crypto billionaires – the recent drop could have been a lot worse and played out rather well when compared with past slips.
Sam Bankman-Fried: The Crash Wasn’t That AwfulAs the CEO of FTX, one of the world’s largest digital currency trading platforms, Sam Bankman-Fried knows a thing or two about the price patterns of bitcoin and some of its biggest competitors. In a recent interview, he commented:
There were $20 billion of long positions that probably got liquidated over a weeklong period, but the industry was able to absorb that… The infrastructure and the liquidity in this space held up much better under the liquidations than they did a year ago.
Some really interesting news about TrendGuru AI project has been popping up in many crypto related media in the last few days. It looks like Artificial Intelligence has started a revolution in the crypto market!
TrendGuru AI - a very old project in the field of market data analysis, announces revolutionary results and finally goes public. This is bound to be a game changer in the cryptocurrency markets. The best AI analytics is now available to everyone with @TrendGuruBot.
«After 6 years of developing and testing our artificial intelligence on our deposits, we are ready to present you the latest and greatest version of our robot. It is an artificial intelligence bot that provides high-profit and low-risk signals for trading in cryptocurrency markets. The technology is based only on pure mathematics and the latest developments in the field of self-learning systems. Simply following the instructions of the system will allow you to consistently receive three-digit returns every year.»
Read more in TrendGuruAI channel and earn hundreds of percent even in a falling market! Definitely recommended!
TrendGuru AI - a very old project in the field of market data analysis, announces revolutionary results and finally goes public. This is bound to be a game changer in the cryptocurrency markets. The best AI analytics is now available to everyone with @TrendGuruBot.
«After 6 years of developing and testing our artificial intelligence on our deposits, we are ready to present you the latest and greatest version of our robot. It is an artificial intelligence bot that provides high-profit and low-risk signals for trading in cryptocurrency markets. The technology is based only on pure mathematics and the latest developments in the field of self-learning systems. Simply following the instructions of the system will allow you to consistently receive three-digit returns every year.»
Read more in TrendGuruAI channel and earn hundreds of percent even in a falling market! Definitely recommended!
Not sure what to do with ERC-20 tokens of failed projects?
Project iQuantXchange (https://iquant.exchange) swap ERC-20 tokens of failed projects for IQX token. The startup has been around for over a year, and during that time it has established itself as a stable platform for swapping worthless tokens for the promising IQX token, which will become the utilitarian token of their new exchange service.
The iQuantXchange will distribute all proceeds from transaction fees to all IQX token holders and is potentially a very powerful investment tool. So powerful, in fact, that some users are buying tokens from failed projects to exchange them for IQX.
To participate in this swap you just need to go to their website https://iquant.exchange, go to Swap Rate Checker section and enter the token you want to get rid of. You will be shown the exchange rate. Then just register and make the exchange. Get answers to questions about this project you can here: https://iquantx.medium.com/learn-about-the-project-from-this-faq-948250871307 or in the project's Telegram group @iQuantX
Project iQuantXchange (https://iquant.exchange) swap ERC-20 tokens of failed projects for IQX token. The startup has been around for over a year, and during that time it has established itself as a stable platform for swapping worthless tokens for the promising IQX token, which will become the utilitarian token of their new exchange service.
The iQuantXchange will distribute all proceeds from transaction fees to all IQX token holders and is potentially a very powerful investment tool. So powerful, in fact, that some users are buying tokens from failed projects to exchange them for IQX.
To participate in this swap you just need to go to their website https://iquant.exchange, go to Swap Rate Checker section and enter the token you want to get rid of. You will be shown the exchange rate. Then just register and make the exchange. Get answers to questions about this project you can here: https://iquantx.medium.com/learn-about-the-project-from-this-faq-948250871307 or in the project's Telegram group @iQuantX
Bitcoin Partnership Unlocks BTC and Ethereum Payments for 85,000 Merchants
The Zurich-based crypto-financial service provider Bitcoin Suisse is partnering with European payments firm Worldline to unlock instant Bitcoin (BTC) and Ethereum (ETH) payments for 85,000 merchants in Switzerland.
The new service, called WL Crypto Payments, enables merchants to accept BTC and ETH payments at the point of sale and in e-commerce, according to a Worldline press release.
The Zurich-based crypto-financial service provider Bitcoin Suisse is partnering with European payments firm Worldline to unlock instant Bitcoin (BTC) and Ethereum (ETH) payments for 85,000 merchants in Switzerland.
The new service, called WL Crypto Payments, enables merchants to accept BTC and ETH payments at the point of sale and in e-commerce, according to a Worldline press release.
Forwarded from TrendGuru AI
Great deal from the first half of August. Very fast, very profitable.
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Closed deal DENT/USDT
Open: $0.00231274, 04.08.2021
Close: $0.00462374, 13.08.2021
Profit: +99.92%
Duration: 9 days
Briefly about the instrument:
Dent is a revolutionary player in the market of mobile communications and data services. Today, around half of the world’s population has restricted access to mobile services because of the high prices traditional mobile carriers offer. Dent brings in the power of blockchain technology to revolutionize this and provide global access to mobile airtime and data.
Dent eliminates the understanding that your mobile data is tied to your location by becoming a global digital mobile operator. Dent offers plans that suit today’s global citizens’ needs by removing roaming fees and introducing international mobile plans. Everything on the Dent platform is purchased through DENT tokens, meaning that all transactions are recorded on the blockchain, and there is no chance for a customer to pay for something and not receive it. Unlike traditional mobile operators, Dent aims to make mobile airtime and data available globally to anyone interested, regardless of their location.
Subscribe to @TrendGuruBot and earn hundreds of percent in any market conditions.
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Closed deal DENT/USDT
Open: $0.00231274, 04.08.2021
Close: $0.00462374, 13.08.2021
Profit: +99.92%
Duration: 9 days
Briefly about the instrument:
Dent is a revolutionary player in the market of mobile communications and data services. Today, around half of the world’s population has restricted access to mobile services because of the high prices traditional mobile carriers offer. Dent brings in the power of blockchain technology to revolutionize this and provide global access to mobile airtime and data.
Dent eliminates the understanding that your mobile data is tied to your location by becoming a global digital mobile operator. Dent offers plans that suit today’s global citizens’ needs by removing roaming fees and introducing international mobile plans. Everything on the Dent platform is purchased through DENT tokens, meaning that all transactions are recorded on the blockchain, and there is no chance for a customer to pay for something and not receive it. Unlike traditional mobile operators, Dent aims to make mobile airtime and data available globally to anyone interested, regardless of their location.
Subscribe to @TrendGuruBot and earn hundreds of percent in any market conditions.
Forwarded from TrendGuru AI
One more great deal in August. Low risk. Huge profit. Everything as we love.
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Closed deal IOTX/USDT
Open: $0.021736, 04.08.2021
Close: $0.070366, 24.08.2021
Profit: +223.73%
Duration: 21 days
Briefly about the instrument:
IoTeX is the decentralized backbone for machine economics which serves machines ranging from smart home devices to autonomous vehicles. To this end, IoTeX has built and launched a fast, high-performance, and EVM-compatible blockchain that provides flexibility and scalability for various applications. Also, middlewares and Dapps are built on top of the blockchain to bring self-sovereign devices and real-world oracles into reality.
IoTeX has several mechanisms that ensure the privacy of users and transactions. Some of these are ring signatures and the reliable payment code that hides the transaction receiver’s address. Delegated proof-of-stake works by having stakeholders vote for the block producers on the network. The number of block producers is set and once they are elected, they are responsible for adding new blocks to the blockchain. For doing it, they receive rewards that they can distribute to the stakeholders who voted for them, incentivizing block producers to continue working and stakeholders to continue voting for block producers.
This is a very promising project with a strong and experienced development team. Subscribe to @TrendGuruBot and earn hundreds of percent on such projects with our AI.
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Closed deal IOTX/USDT
Open: $0.021736, 04.08.2021
Close: $0.070366, 24.08.2021
Profit: +223.73%
Duration: 21 days
Briefly about the instrument:
IoTeX is the decentralized backbone for machine economics which serves machines ranging from smart home devices to autonomous vehicles. To this end, IoTeX has built and launched a fast, high-performance, and EVM-compatible blockchain that provides flexibility and scalability for various applications. Also, middlewares and Dapps are built on top of the blockchain to bring self-sovereign devices and real-world oracles into reality.
IoTeX has several mechanisms that ensure the privacy of users and transactions. Some of these are ring signatures and the reliable payment code that hides the transaction receiver’s address. Delegated proof-of-stake works by having stakeholders vote for the block producers on the network. The number of block producers is set and once they are elected, they are responsible for adding new blocks to the blockchain. For doing it, they receive rewards that they can distribute to the stakeholders who voted for them, incentivizing block producers to continue working and stakeholders to continue voting for block producers.
This is a very promising project with a strong and experienced development team. Subscribe to @TrendGuruBot and earn hundreds of percent on such projects with our AI.
Former US President Donald Trump Has Just Revealed Latest Stance On Bitcoin, Cryptos
Former U.S. President Donald Trump has put his weight around cryptocurrencies trashing them as an investment choice over what he referred to as a potential disaster waiting to happen.
In a Tuesday evening interview live call with media outlet Fox business, the 45th president stated that he had lowered his overall investments across the market, blaming the current government under Biden for deterring with the tax cuts that he had introduced during his tenure, leading to a massive inflow of foreign investors into the U.S.
Former U.S. President Donald Trump has put his weight around cryptocurrencies trashing them as an investment choice over what he referred to as a potential disaster waiting to happen.
In a Tuesday evening interview live call with media outlet Fox business, the 45th president stated that he had lowered his overall investments across the market, blaming the current government under Biden for deterring with the tax cuts that he had introduced during his tenure, leading to a massive inflow of foreign investors into the U.S.
Crypto.com Announced As The Official Cryptocurrency Platform Partner For Messi’s Football Club, Paris Saint-Germain
Crypto.com, a platform that allows users to trade and receive payments in crypto, is now the official cryptocurrency platform partner for the Paris Saint-Germain, the club that recently contracted the world’s greatest footballer Lionel Messi.
As part of the multi-year and very significant deal, Paris-Saint Germain is also planning to release a non-fungible token or NFT to be sold through the crypto.com native NFT platform.
The announcement came yesterday from the two companies. Crypto.com will pay a portion of the sponsorship fee using its native CRO crypto token. Crypto.com co-founder and CEO Kris Marszalek said the move would propel the adoption of cryptocurrencies and boost football fan experiences.
Crypto.com, a platform that allows users to trade and receive payments in crypto, is now the official cryptocurrency platform partner for the Paris Saint-Germain, the club that recently contracted the world’s greatest footballer Lionel Messi.
As part of the multi-year and very significant deal, Paris-Saint Germain is also planning to release a non-fungible token or NFT to be sold through the crypto.com native NFT platform.
The announcement came yesterday from the two companies. Crypto.com will pay a portion of the sponsorship fee using its native CRO crypto token. Crypto.com co-founder and CEO Kris Marszalek said the move would propel the adoption of cryptocurrencies and boost football fan experiences.
Over $300 Billion Wiped Off Bitcoin, Solana, XRP, Cardano, Ether Markets As Crypto Sees Bloody Monday
Widespread panic gripped the entire crypto community on Monday as major cryptocurrencies shed last week’s gains. The move that saw approximately $839.7 million worth of crypto assets liquidated and over 173,771 positions closed in under 24 hours was largely attributed to whales taking profits.
According to data from Bybt.com, the biggest liquidation saw $311.92 million in crypto wiped out in one hour. Exchanges Bybit, Okex, Binance, FTX, Huobi, and Bitmex recorded the highest number of liquidations in under an hour at $153m,$58.09m,$48.15m,$29.41m,$14.32m, and $5.10m worth of assets liquidated in an hour respectively.
Widespread panic gripped the entire crypto community on Monday as major cryptocurrencies shed last week’s gains. The move that saw approximately $839.7 million worth of crypto assets liquidated and over 173,771 positions closed in under 24 hours was largely attributed to whales taking profits.
According to data from Bybt.com, the biggest liquidation saw $311.92 million in crypto wiped out in one hour. Exchanges Bybit, Okex, Binance, FTX, Huobi, and Bitmex recorded the highest number of liquidations in under an hour at $153m,$58.09m,$48.15m,$29.41m,$14.32m, and $5.10m worth of assets liquidated in an hour respectively.
EOS Price Analysis: Bulls Facing Uphill Task Near $4.40
EOS price is trading in a bearish zone below $4.00 against the US Dollar, similar to bitcoin. The price could recover if it manages to clear the $4.40 resistance.
EOS Price AnalysisThis past week, EOS price saw a major decline from well above the $5.00 resistance zone against the US Dollar. The price declined below the $4.50 support level and the 55 simple moving average (4-hours).
There was also a break below the $4.20 and $4.00 support levels. Finally, there was a spike below the $3.80 level. The price traded as low as $3.63 before it started an upside correction. There was a recovery wave above the $3.80 and $3.90 levels.
EOS price is trading in a bearish zone below $4.00 against the US Dollar, similar to bitcoin. The price could recover if it manages to clear the $4.40 resistance.
EOS Price AnalysisThis past week, EOS price saw a major decline from well above the $5.00 resistance zone against the US Dollar. The price declined below the $4.50 support level and the 55 simple moving average (4-hours).
There was also a break below the $4.20 and $4.00 support levels. Finally, there was a spike below the $3.80 level. The price traded as low as $3.63 before it started an upside correction. There was a recovery wave above the $3.80 and $3.90 levels.
Bitcoin ETF Could Ignite A Terrifying Crypto Market Crash, Predicts Pantera Capital CEO
The hopes of a bitcoin ETF being approved in the United States have risen recently after the U.S. Securities and Exchange Commission (SEC) chair Gary Gensler suggested he would be open to permitting futures-based bitcoin exchange-traded funds.
As the crypto community awaits the SEC’s decision on crypto ETF applications this month, the launch of such a product would not bode well with the price of the dormant cryptocurrency in the short term. That’s the opinion of Dan Morehead, the CEO of Pantera Capital.
The hopes of a bitcoin ETF being approved in the United States have risen recently after the U.S. Securities and Exchange Commission (SEC) chair Gary Gensler suggested he would be open to permitting futures-based bitcoin exchange-traded funds.
As the crypto community awaits the SEC’s decision on crypto ETF applications this month, the launch of such a product would not bode well with the price of the dormant cryptocurrency in the short term. That’s the opinion of Dan Morehead, the CEO of Pantera Capital.
Forwarded from TrendGuru AI
A lot of good deals in September. Look at one more of them. As always, excellent performance from our TrendGuru AI.
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Closed deal FTM/USDT
Open: $0.26867, 06.08.2021
Close: $1.3955, 08.09.2021
Profit: +419.41%
Duration: 33 days
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What Is FTM?
Fantom is a directed acyclic graph (DAG) smart contract platform providing decentralized finance (DeFi) services to developers using its own bespoke consensus algorithm.Together with its in-house token FTM, Fantom aims to solve problems associated with smart-contract platforms, specifically transaction speed, which developers say they have reduced to under two seconds.The Fantom Foundation, which oversees the Fantom product offering, was originally created in 2018, with the launch of OPERA, Fantom’s mainnet, coming in December 2019.
The platform’s compatibility with Ethereum means that users can purchase an ERC-20 standard FTM, which is automatically converted to native FTM once received to their wallet. Another version of FTM is available on Binance Chain using its BEP2 standard. Only the native FTM can be used on the Fantom OPERA mainnet itself.
Fantom attempts to use a new scratch-built consensus mechanism to facilitate DeFi and related services on the basis of smart contracts.
The mechanism, Lachesis, promises much higher capacity and two-second transaction finalization, along with improvements to security over traditional PoS algorithm-based platforms.
Matching Ethereum, the project appeals to developers looking to deploy decentralized solutions. According to its official literature, its mission is to “grant compatibility between all transaction bodies around the world.”
Its in-house PoS token, FTM, forms the backbone of transactions, and allows fee collection and staking activities, along with the user rewards the latter represents.
Subscribe to @TrendGuruBot and earn hundreds of percent on such projects with our AI.
💵💵💵
Closed deal FTM/USDT
Open: $0.26867, 06.08.2021
Close: $1.3955, 08.09.2021
Profit: +419.41%
Duration: 33 days
💵💵💵
What Is FTM?
Fantom is a directed acyclic graph (DAG) smart contract platform providing decentralized finance (DeFi) services to developers using its own bespoke consensus algorithm.Together with its in-house token FTM, Fantom aims to solve problems associated with smart-contract platforms, specifically transaction speed, which developers say they have reduced to under two seconds.The Fantom Foundation, which oversees the Fantom product offering, was originally created in 2018, with the launch of OPERA, Fantom’s mainnet, coming in December 2019.
The platform’s compatibility with Ethereum means that users can purchase an ERC-20 standard FTM, which is automatically converted to native FTM once received to their wallet. Another version of FTM is available on Binance Chain using its BEP2 standard. Only the native FTM can be used on the Fantom OPERA mainnet itself.
Fantom attempts to use a new scratch-built consensus mechanism to facilitate DeFi and related services on the basis of smart contracts.
The mechanism, Lachesis, promises much higher capacity and two-second transaction finalization, along with improvements to security over traditional PoS algorithm-based platforms.
Matching Ethereum, the project appeals to developers looking to deploy decentralized solutions. According to its official literature, its mission is to “grant compatibility between all transaction bodies around the world.”
Its in-house PoS token, FTM, forms the backbone of transactions, and allows fee collection and staking activities, along with the user rewards the latter represents.
Subscribe to @TrendGuruBot and earn hundreds of percent on such projects with our AI.
CEX.IO Exchange has reduced the fees for withdrawal to Visa cards to 2.5%
Currently, this is the lowest commission for withdrawal to Visa cards among all cryptocurrency exchanges. This promotion will not last long, so hurry to take advantage of this opportunity and register right now!
Currently, this is the lowest commission for withdrawal to Visa cards among all cryptocurrency exchanges. This promotion will not last long, so hurry to take advantage of this opportunity and register right now!
Avid Crypto Critic Peter Schiff Wants The US SEC Abolished For Approving Bitcoin Futures ETF
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 week.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 ‘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.
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 week.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 ‘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.