Markets

Digital Wealth News is pleased to bring you a very special AND EXCLUSIVE interview this week with noted blockchain entrepreneur, T. Gobble of FinTurk Farms.

Keep in mind that these newly listed Bitcoin ETFs do NOT actually hold Bitcoin, but rather Bitcoin FUTURES, and specifically, futures traded on the CME (Chicago Mercantile Exchange) which settle monthly in cash. In other words, these new ETFs will never actually hold Bitcoins. How will this affect Bitcoin trading, settlement and, most importantly, how the ETFs will trade? Again, who knows. Its a brand new world.

always chasing cars actually caught one. Well the "dog" (ProShares) just caught its coveted Bitcoin ETF, sort of. It's a Bitcoin FUTURES ETF. Big difference. But, at least at long last, the SEC finally approved a Bitcoin "flavored" Exchange Traded Fund, well then, yippee!

Gold retires. Yes, it's true. After 5,000 years of impeccable service to global monetary development and stability, Gold announced its retirement. The world is grateful.

Just when you think there could not possibly be anything left to politicize along comes a new entrant. Crypto. How might potential voters view legalizing crypto for payments? Would Republicans or Democrats be more inclined to accept crypto as legal tender? Where do they live? Red state? Blue sate? How would they vote? If you are contemplating running for political office you need (?) to know, right? Well let's dig in.

Did you know (I sure didn't) that there are 195 countries in the world? Did you know (I did) that only one so far has made Bitcoin legal tender? That country is El Salvador down in Central America. And sure, as dominoes fall there will be many more following El Salvador's lead.

Global central banks will continue to acquire and hold gold in their treasuries, but why? If you are not going to back fiat currencies with gold, all you have is a pile of shiny rocks sitting in a vault. I'm pretty positive that, even as a store of value, it would at least be expected to provide an increasing rate of return.

Thinking adjustment. A recent poll consisting primarily of banking executives discovered that most feel that bitcoin and digital assets could replace fiat currencies like the U.S. dollar within the next 5 to 10 years. Hard to believe since most financial professionals were bitcoin skeptics only a few years ago. But hey, guess you can teach old banker types new tricks.

Bitcoin ETF just rushed over to door number two. Yells of "let me in" are getting very loud. So what's behind door number two? Bitcoin futures. Recently the SEC dropped hints they MAY be receptive to ETFs that will trade in bitcoin futures rather than the cryptocurrency itself. Thus the stampede and excitement got all the management firm's juices flowing.

Dear GOLD. It's over. After thousands of years of a beautiful relationship, it's time we (the world's populace) move on. Nothing personal, it's just that your shiny golden luster has lost its glow. Sad but true.