In a Rundown news letter, the following quote was made from James Altucher: Under the leadership of President Trump,
an important government agency is about to change the rules of the crypto game… unleashing an estimated $5.1 trillion into the crypto market… and minting a new round of millionaires. Does this have any merit? He states this:
"Because with the demand for Bitcoin rapidly building on the institutional side…
With over 200 funds dedicated to cryptocurrency...
And with the Chicago Board Options Exchange filing to bring a Bitcoin fund to the market…
I am CERTAIN that the SEC will approve the first Bitcoin Exchange Traded Fund!!
They have no choice…
And it could happen as soon as September 30th with this upcoming announcement.
And once these multi trillion dollar institutions have a safe method for gaining exposure to cryptocurrency…
We’ll quickly see Bitcoin appear in every 401(k) and Pension plan in America!"
Many have been looking for this Bitcoin ETF for at least 12 months and longer. Yes, what he states is what many, including myself have said that this will open $Trillions of institutional money to come into Bitcoin and the crypto currency market in general.
Most of us know by now that the time to own crypto currencies is before the masses rush in. Now is a good time to buy since the market has been beaten up so badly this year. Many bottoms have been met and the downside risk seems low (not financial advice just an opinion).
What are your thought? P.S. I hope he buys a comb with his Bitcoin Millions. LOL
image from: cnbc.com