May. 17, 2022
Hello, I would like to comment on the conversion from GBTC to a Spot Bitcoin ETF. I think this would be a great idea as it would provide a way for investors to directly invest in Bitcoin at the actual price, rather than a speculative price for the future as Bitcoin Future ETF's do. Many people believe in cryptocurrencies and that this is the path forward, innovation in a new digital era, every day we do more and more activities digitally that we used to perform by other means. Be that studying, purchasing, researching, planning/booking vacations, renting movies or PPV events. It is only natural that the future will involve a more digital approach when it comes to payments. I understand Visa and Mastercard provide this opportunity, but it does not provide the same sort of security digital currencies do. As there are still many fraud situations, I've had fraud on cards that I never even used after delivered, as they are so easy to clone now adays with RFID readers. The advantage of being able to purchase a Spot Bitcoin ETF would drive adoption and increase usage. Considering China is banning world-wide cryptocurrencies as they want to develop their own, if we fall behind, they will end up with the competitive advantage in the end, and possibly become the larger economy. I also believe that Bitcoin has a really bright future and this would open the door for people to invest in Bitcoin directly from their 401K's and be able to take advantage of this digital revolution, if they are short in Fiat due to their daily regular expenses. Thank you for reading Luis Prado