Bitcoin is a buzzworthy topic whether the cryptocurrency market is up or down. It seems fickle, at times, and a strong determiner of economic growth on the other end of the spectrum. Pundits, executives, and influencers all have a strong opinion and a hand in the market. There is disagreement on the future of Bitcoin, and yet there is hope for its future success. What everyone can agree on, however, is that Bitcoin is inching towards a broader worldwide acceptance.
As one of the first to market cryptocurrencies, Bitcoin is poised to continue its upward trajectory, albeit with a few bumps in the road here or there. Keep reading for more on the latest information in the world of Bitcoin.
Will the SEC approve cryptocurrency ETFs?
To date, the Securities and Exchange Commission has not approved any form of cryptocurrency as an Exchange-Traded Fund. While that may be frustrating for many current and potential investors, there are still opportunities to invest in alternative approaches.
CNBC reports that the software and cloud-based services company MicroStrategy has positioned itself as the earliest and lone adopter of Bitcoin ETF in the United States. As MicroStrategy intends to continue purchasing Bitcoin and adding to their company portfolio, they are hedging bets that it will become a more attractive investment opportunity on the whole.
While many Bitcoin investors are eagerly awaiting the time when they are able to trade Bitcoin itself as an EFT, purchasing stock in a company such as MicroStrategy is your best option right now.
What is the private sector doing to encourage public awareness of Bitcoin?
In a recent report from The Verge, it was announced that Tesla is partnering with Block and Blockchain in a public-facing effort to further democratize Bitcoin specifically and cryptocurrency overall. The group is poised to begin construction on a Bitcoin mine in Texas which will be run with solar power via Tesla’s proprietary 3.8 megawatts solar PV array and the 12 megawatt-hours Megapack. They claim it will not release greenhouse gasses into the atmosphere, thus making this the most environmentally-friendly crypto effort to date.
It was reported that there will be overall transparency in the operation and mining of Bitcoin. The general populace will be able to access the mine’s power and production data to see everything happening as it occurs.
What do you need to do to stay on track with Bitcoin?
Right now, your best bet in dealing with Bitcoin or any other form of cryptocurrency is to keep track of your secure information when dealing with crypto wallets, exchanges, and the like. It can be messy at times to buy and sell crypto. Until an ETF is approved, this is what you need to do to stay in the game. Do not let the hassles of investing in this potentially profitable alternative currency deter you from diversifying your portfolio and engaging with new opportunities. Stay the course and keep an eye on the latest trends in Bitcoin with Bitcoin News as your trusted source of information.