Aug. 08, 2018
SEC Members,
In regard to the VanEck SolidX Bitcoin Trust I am hopeful that it'll be seen the value of the ETF being formed for a new and upcoming Technology that is being adapted globally by many. Are there concerns with the possibilities of investor security and manipulation? Yes, of course as there is with any security of asset being traded on an open market. However, for the SEC to highlight those possibilities as major concerns would have to be voided because every single day there is more manipulation in the securities market with investors losing heavily and retail investors constantly taking losses due to the manipulation by market makers and companies freely being allowed to hammer securities with constant dilution and reverse splits. Purely simply that Bitcoin being allowed to have an ETF and take more control out of the retail investors hands and placing it into a institutions hands will allow for the Crypto Currency market to be less violate and less manipulated. Allowing then more adaption from global masses to create the over all reason it became what it is today. This is creation of the new age for people to easily be able to instead turn currency into example usd to yen for vacation as we are able to stabilize Bitcoin we are essentially taking USD to Bitcoin and using it as a currency globally. The ETF will help stabilize the Crypto Market into creating what needs to be done anyhow and having a global currency to be used everywhere. This is our chance in our lives and in America to create something new for transactions aside from paper money and credit card transactions.
Bottom line, using manipulation as the main concern and investor security would be out right an unfair chance for the Bitcoin ETF as the Markets are more manipulated than ever on a daily basis. This year alone I've first hand watched Companies fall from over $30 to under .10 cents. Submit and fulfill a reverse split then dilute the shares back from above $20 to under .10 cents once again. So, to say those are concerns then in a realistic world you'd be looking passed the manipulation currently taking place in our securities market and saying we won't allow it as it's being allowed on a daily basis.
Many people believe in the Technology behind Crypto Currency and we know the high profile watch this is taken on the Bitcoin ETF. Get behind retail investors for once as well the institutions and allow us to watch a new way take place. If you haven't seen already many have already taken hits from the pushes on the dates you guys have already filed. It shouldn't be in the hands of a few people to have to watch their portfolios tank because of the SEC. People want this. The people that don't then ok that is up to them to invest or don't invest, but don't take this out of the hands of the people who do want it as we all know the risk when you invest in anything. You cannot be biased on something you allow against something seeking approval. People know the risks. If I called the SEC tomorrow and said I lost a bunch of money in an investment. I'd be told I know the risks and there is nothing you can do about it. We know the risks of what could or couldn't happen with the launch of an ETF for Bitcoin. Allow investors to make the same decisions you ask us to make now on investing and approve the ETF.
Curt Wiggins