Gary Gensler warning to Crypto Investors
Hello and Namaste Everyone,
Bitcoin ETF is the hot news in the crypto market. We have been hearing a lot about the Bitcoin spotted here for the last few months. Now there are multiple updates that it is expected to have the Bitcoin et of approved. Everyone is looking for this update when officially this will be done. SEC aka Security and Exchange Commission is a government organization based out in the US. This organization will be giving the go-ahead for Bitcoin spot ETF and this Wednesday is an important day for the crypto community.
The SEC chairperson Gary Gensler shared a warning on Twitter before the approval for bitcoin spot ETF. The tweet has got a great response on social media and the entire cryptocurrency community is talking about it. No doubt Gary Gensler is a popular personality on social media and even if he is not a crypto pro but also he is involved in all these proceedings. He's the one who has been creating a lot of problems for the Crypto exchanges in America. Now he is the one who will be playing an important role in the approval of spot ETF for Bitcoin.
The entire crypto world and much of the U.S. financial sector is anxiously awaiting word from the U.S. Securities and Exchange Commission (SEC) on whether it will approve a spot bitcoin exchange-traded fund (ETF). SEC Chair Gary Gensler has chosen this moment to issue a broad warning about the hazards to investors of getting into digital assets.
This is the thread in which he talked about the risk involved with cryptocurrency investment. Experts are anticipating that this is good for the Bitcoin ETF as before the approval SEC is trying to warn investors in case something doesn't go right. It is also shared on social media that we should not be expecting any great moment in the Bitcoin price just after the approval however a a little increase is possible.
The tweet has got almost 27 million views in just 24 hours which shows that he is a popular personality and the Crypto World is following him. I have never seen any to eat with such a massive impression and view. This is about crypto and it also proves that the crypto community has grown and is mostly available on social platforms like Twitter which is a microblogging platform.
A majority of the people in the Crypto community are expecting the approval to be done this Wednesday. So far there is no negative news around and even this warning can also be a signal that the SEC is going to approve it before the approval they are trying to make the investors aware. It is right that they should be doing it because it is their responsibility to keep the investors informed but investors are smart and they understand the risk with crypto investment. Even in India RBI keeps on sharing some updates about Crypto however the government is exploring the option to regulate crypto.
It is more or less a similar situation where the SEC is trying to play a bit smart role so that later they need not face issues and investors cannot blame them. This year 2024 is going to be an exciting time for the cryptocurrency market because after the Bitcoin spot ETF will be left with just about one hundred days for the Bitcoin halving. It is difficult to say whether we are going to have the bull run this year but the market is indicating that it is most likely possible to happen this year.
Thank you so much
Stay Safe
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I had no idea about it..thanks for sharing 🙏
thank you so much @mysteriousroad
You made a very good comment about the many problems we were facing in America regarding crypto.
I have seen some other tweets of Gary. You are right he doesn't like crypto probably because he sees Bitcoin as a threat to the US dollar or as you said he is playing smart on behalf of the government. Whatever the reason, I think there will not be any problem with the approval of Bitcoin ETF.
He is not a Crypto pro but still voted for ETF. Good