UPDATE ‼️ Bitcoin price dumped 9% in 1 hour on the basis of a report by Matrixport predicting an SEC rejection of ALL Bitcoin ETF applications.

Their justification? Politics.

- 5 voting commissioners are Democrats.

- Democrats don't like 'crypto'.

- Applicants haven't satisfied the SEC's requirements.

- There is not political justification to approve a Bitcoin ETF.

I spoke to Bloomberg's ETF analyst @JSeyff at length, and together with his senior colleague @EricBalchunas - they give a +90% chance of approval due to a number of factors, especially the SEC's significant change in behaviour by way of engaging with applicants and providing them with guidance on updating their applications.

My interview with James is really worth listening to because we cover this from the outset and James lays it out quite clearly. It's worth noting James and Eric called Grayscale's victory in advance and have been accurate all the way along so far.

FULL BLOOMBERG INTERVIEW:

t.co/ASloefyIHF

There are several key reasons as to why a Bitcoin ETF is more likely to be approved this time compared to previous attempts:

1. **Grayscale's Legal Victory**: Grayscale winning its court case against the SEC has significantly shifted the landscape. This court decision has been a major catalyst in increasing the likelihood of ETF approvals.

2. **SEC's Increased Engagement with Issuers**: The SEC's proactive discussions and meetings with ETF issuers suggest a more collaborative and open approach towards resolving outstanding issues and concerns related to ETFs.

3. **Addressing SEC's Concerns**: Issuers have gradually addressed the SEC's concerns, ticking off many of the SEC's checklist of requirements for approval, such as 'Cash Creates' only.

4. **Market Evolution and Maturity**: The Bitcoin market has significantly evolved and matured over the years, with better infrastructure, increased institutional participation, and more robust regulatory frameworks.

5. **Improved Market Surveillance and Compliance**: Advances in market surveillance and compliance mechanisms have made it easier to address the SEC's concerns regarding market manipulation and fraud.

6. **Increased Institutional Interest**: Growing interest from established financial institutions in Bitcoin has likely played a role in pushing for regulatory clarity and ETF approvals.

GOOD MORNING, NOSTR ONLY 🫡

NOSTR ALREADY HAS MORE ADOPTION THAN BITCOIN TWITTER FIVE YEARS AGO.

GOOD THINGS TAKE TIME. THE FUTURE IS BRIGHT.

Reply with your Liquid address, I'll send fist few people some liquid btc for the culture

A BITCOINER FIGURED OUT A PROTOCOL WHERE I CAN BROADCAST TO THE WORLD AND NOBDOY CAN STOP ME.

THANK YOU FIATJAF FOR THIS PURE FUCK YOU TECH. NEEDED IT.

YOU KNOW WHO YOU ARE. COMING FOR YOU.

Might fuck around with liquid idk

Why is #Bitcoin better than #Realestate? I will zap anyone that reposts this ⚡️

Trick or treat!

Renote this post below and share a valid Liquid address to stack some L-Sats!

2 lucky renoters will stack enough L-BTC to purchase their own #BlockstreamJade Bitcoin and Liquid #Bitcoin hardware wallet!

It always bemuses me when the likes of Stephen Diehl dismiss Bitcoin in economic terms by alluding to the failed era of the gold standard, and implying that gold failed at being money.

Gold was $35 per ounce 50 years ago, and approx $1,900 now. Perhaps on this rather important criteria it's done pretty well at being money?

It was a Fluff piece.

"Could not assemble LN url"

In honor of labor day, I'm giving EVERYONE who replies to this post, a zap until my wallet is empty.

Anyone got any good book recommendations from the past 12 months?