ETFs

Finalizing the Future of Spot Bitcoin ETFs

ETF Buzz: The SEC is set to finalize comments on Spot Bitcoin ETFs in crucial meetings with major stock exchanges, marking a significant step in the regulatory process and potentially paving the way for broader Bitcoin investment avenues via ETFs.

Regulatory Roundtable: These pivotal meetings will bring together representatives from the New York Stock Exchange, NASDAQ, and CBOE to conclude discussions on the proposed Spot Bitcoin ETFs.

Market Implications: Approval of spot Bitcoin ETFs would allow for widespread access to Bitcoin through traditional investment channels, significantly impacting both institutional and retail investors.

Anticipated Outcomes: As stakeholders await the outcome of these discussions, the SEC's decisions will be instrumental in shaping the future landscape of Bitcoin investment and its incorporation into broader financial markets.

📚 Aaron van Wirdum's "The Genesis Book," was released on January 3, 2024. It, delves into the pre-Bitcoin efforts by visionaries to develop a government-independent digital currency, leading to the revolutionary creation of peer-to-peer electronic cash.

💰 MicroStrategy's Michael Saylor begins selling $216 million in company shares. to meet personal obligations and invest more in Bitcoin. Despite market slumps, this move comes as MicroStrategy remains the largest corporate Bitcoin holder.

🚀 BlackRock plans to seed its Bitcoin ETF with $10 million worth of BTC. This would only be the fund’s initial seed funding, pending SEC review and amidst speculation about the purchase's timing.

🎉 Yesterday was Bitcoin "Genesis Block Day". This special day commemorates the creation of the first block in the Bitcoin Blockchain by Satoshi Nakamoto on January 3, 2009. This foundational block, unique with no prior transactions, symbolizes the start of a decentralized currency era and its subsequent industry.

🌟 [VIDEO] Mike Novogratz released a video commemorating Bitcoin’s 15th birthday. “Fifteen years ago, Bitcoin emerged from the digital depths as a beacon of empowerment, offering secure, decentralized transactions and a solid store of value, free from government control. As it matures, its transformative potential continues to unfold. Happy 15th birthday, Bitcoin.”

US DEBT

US National Debt Passes $34 Trillion USD

Debt Dilemma: The U.S. national debt has reached a historic high of $34 trillion, marking the first time it has ever crossed this threshold. This alarming figure was revealed in a recent report by the Treasury Department, emphasizing the country's escalating financial obligations.

Mounting Pressure: As the U.S. grapples with this unprecedented debt level, Congress is under immense pressure to pass essential funding bills to avert a government shutdown. Projections by the Congressional Budget Office suggest that the national debt could nearly double within the next three decades, potentially reaching 181% of the gross domestic product by 2053.

Inflation and Interest: The U.S. isn't just battling a debt crisis; it's also facing persistent inflation issues. Interest rate hikes throughout 2023 have exacerbated the cost of living, making the debt burden heavier for Americans.

Future Forecast: The financial forecast looks grim, with interest payments on the $34 trillion debt expected to triple by 2032, reaching a staggering $1.4 trillion. By 2053, these payments could soar to an overwhelming $5.4 trillion.

Is this all-time high futures market a bullish sign?

Yes - 63%

No - 37%

🇦🇷 President Javier Milei of Argentina has introduced a draft bill offering tax incentives for declaring crypto holdings, aiming to regularize assets amidst economic reforms. Despite welcoming his pro-Bitcoin stance, the proposal faces significant citizen backlash.

💰 MicroStrategy, with a substantial Bitcoin investment, reports a $2.65 billion unrealized profit as the cryptocurrency’s value soars. The company holds 189,000 BTC, making it a significant crypto market player.

🔗 In the wake of FTX's collapse, connections between Alameda Research, Farmington State Bank, and Fluent Finance reveal a deeper strategy for digital currency evolution. Fluent Finance, entwined with Wall Street banks, is developing crucial infrastructure for Central Bank Digital Currencies (CBDCs), particularly in the Middle East.

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Today’s newsletter was written and edited by Jordan.