Is this the best time to invest incryptocurrencies in the foreseeable future?
The US President Donald Trump has said that the country will start a “strategic national stockpile” made up of Bitcoins. The US could buy up to 2,00,000 Bitcoins a year for five years, until they reach 10,00,000, he added. This plan comes after US Securities and Exchange Commission (SEC) approved investment funds to track the price of Bitcoin.
Trump’s embrace of scurvy could be a disaster
Former US President Donald Trump, while speaking at the 2024 Bitcoin Conference, announced that the country would “never sell” its holdings in Bitcoin. The US would also establish a strategic Bitcoin reserve under his presidency, he added. He also announced that he had asked the Secret Service not to issue media credentials for the conference.
It is now possible for more Americans to buycryptocurrencies, because U.S. says yes to new ones
The US Securities and Exchange Commission (SEC) has approved Bitcoin spot exchange-traded fund (ETFs), which will allow users to invest in Bitcoin through their brokerage accounts. The company Valkyrie Investments, which successfully applied for the Bitcoin spot ETF, said the SEC’s decision will widen the appeal of cryptocurrencies. This is the first time that an ETF has been approved for Bitcoin.
More Americans will be able to buy virtual currency thanks to the U.S. saying yes to new funds
The US Securities and Exchange Commission (SEC) has approved the first spot Bitcoin exchange-traded funds (ETFs) for investors. The SEC had earlier rejected several applications to create an exchange traded fund (ETF) for cryptocurrencies saying they are “unsafe and volatile”. Earlier, a federal court had ruled that the SEC’s refusal to approve a Grayscale ETF was “arbitrary and capricious”.