TL; DR
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Hester Peirce (aka ‘Crypto Mom’) talked about a possible spot for BTC ETF on CNBC yesterday morning.
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She said this about a potential BTC ETF on CNBC: “I’ve thought for the last five years that we should approve one… So the logic of why we haven’t has always baffled me.”
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This story added about $50 billion to Bitcoin’s market cap in the past week (see header image ☝️).
Full story
Stocks, cryptocurrencies – hell, entire market segments…
They can live and die by stories.
And boy Is there a strong story in the crypto space?
One that is firmly centered around the possible approval of a spot Bitcoin ETF.
(Also known as: a fund that allows stock traders to buy Bitcoin through the US stock market, which would bring a lot of new money into crypto).
Here’s the news that has pushed the story into hyperdrive since yesterday:
Crypto Mom spoke.
More specifically, Hester Peirce talked about a potential BTC ETF spot on CNBC yesterday morning.
Here’s what you need to know about Hester (aka ‘Crypto Mom’):
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She is a member of the SEC.
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She is publicly pro-crypto and blockchain technology.
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She has spoken out against the SEC’s anti-crypto stance.
…and yesterday Hester said this about a potential BTC ETF on CNBC:
“I’ve been thinking for the last five years that we should approve one…
So the logic of why we didn’t do that has always baffled me.”
Here’s the math of it all:
Long-held belief from a representative of the government agency responsible for approving/denying BTC ETFs.
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The industry has been whispering for the past week that such an ETF is “close to approval.”
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Enough story to add roughly $50 billion to Bitcoin’s market cap in the past week (see header image ☝️).
Is this story founded/unfounded?
No idea! All we know is: it affects the market one way or another.
