The amount of bitcoin ETF on the market are exploding and we are not surprised. It’s been our opinion for some time that Bitcoin is awesome and old money is just holding it back until they have a chance to control it and make some money. As of about a week ago The nerd wallet reports 19 Bitcoin ETF, last month decrypt reported that there was 11 bitcoin ETFs. We don’t see a sign of bitcoin going back below $50,000.
Nayib Bukele has apparently won his second term as president in a landslide victory.
Nayib Bukele Wins El Salvador’s 2024 Election – Twitter.com
Keeping it simple apparently El Salvador love their Crypto President. Bukele has been in the for front of the news for cracking down and violence in El Salvador and using Bitcoin as a legal tender. The eyes of the world are on El Salvador for standing behind the drastic measures taken to ensure safety and security both physically and financially. Many are ht
SBLOCK continues to see the SEC regulating the cryptocurrency and exchange industry as a good thing. It adds validity to cryptocurrencies and tokens as a form of exchange. The industry could use more investor protection and market integrity in the wake of the FTC scandal. The price of Bitcoin, the leading cryptocurrency continue to rise and fall and seems to be on it’s way up for the halving.
There are still CDBC (Central Bank Digital Currencies) expected to be released but no one except the Bahamas has actually created one. The politics of money continues while El Salvadore benefit from using Bitcoin as it’s means of exchange. The utiltiy of the BlockChain proves itself.
At SBLOCK we know that the BlockChain and cryptocurrencies are the future of Financial Technology.
El Salvador, the country that decided to make Bitcoin a legal tender has seen it’s bonds increase by 70% for 2023. We like to call “The little country that could”.- So they did. Now investors from over the globe are paying attention. Such as one of my favorites JP Morgan Chase, where one of there strategist wrote,
“Although we missed a significant share of the rally, we still think there’s value across El Salvador’s curve. There’s room for this credit to keep outperforming.”
It’s another win for Bitcoin. Coin Telegraph has the full story.