Bitcoin Smashes US $60,000 on Bitcoin Futures ETF SEC Approval Speculation

Bitcoin smashed past $60,300 per coin after speculation that the SEC could imminently approve a Bitcoin futures based ETF, or exchange traded fund.

The ETF would allow anyone with a brokerage account, including larger investors, to gain exposure to Bitcoin’s price by investing in the ETF.

It would also be a final nail in the coffin of those who believe cryptocurrency is a fad or temporary phenomenon.

Earlier this year, when faith in the central banks was at an all time low and when China was responsible for nearly two-thirds of all the cryptocurrency mining, China’s leader Xi could have taken a very bold step by further weakening the central banks - and opening the door to Bitcoin at a time of strategic strength.

Instead, his regime did the opposite, outlawing it, dropping cryptocurrency mining involvement in China to close to ZERO percent, and handing all the mining revenue to the West - today, the United States is the largest source of cryptocurrency mining operations, followed by Europe and Russia.

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