Should You Be Excited About Bitcoin ETFs? — VAULT Cryptocurrency Blockchain News #27
There has been a lot of bullish news for Bitcoin this week as the price has moved back above $60,000. Most of the bullishness comes from information concerning ETFs.
As you evaluate the impact of these reports on the future price of Bitcoin, keep in mind that not all ETFs are the same or work the same way. Look closely at the newly approved Bitcoin ETF. What do you see?
With Bitcoin Futures ETFs, the product traded is not actual Bitcoin but Bitcoin futures. No actual or physical Bitcoin is purchased to fund these products. Buying and trading Bitcoin futures is more complicated and subject to many more fees than trading actual Bitcoin.
Several successful traders have warned that Futures ETFs for Bitcoin will not only suppress price growth but may drive prices lower and make the market much more susceptible to price manipulation.
Who wins with the approval of a Bitcoin futures ETF? These products are expensive and require constant attention and renewal by traders and brokerage firms. Futures contracts expire and must constantly be renewed and maintained, generating fees with each cycle. You can easily see that Wall Street has the most to gain from these contracts and not the small retail investors. When I see approval of a physical Bitcoin ETF, I will be a little more impressed.
VAULT Crypto News This Week
VAULT upgraded to 5.3.2 with the new collateral (6000)
All masternodes were restarted and are running well.
GTC was upgraded to the new collateral (50000)
All masternodes were restarted and are running well.
VAULT Coin’s Market Performance This Week
VAULT coin is up 12.9% this week! We saw a high of $6.79 on Saturday. Our low this week was on $5.81 on Wednesday. We finished out the week at $6.69 for a nice increase of 31.5% over the past 2 weeks.
We saw an average of $1,199.68 traded daily. This maintains us above the $1,000 daily level and is slightly above last week’s number of $1098.74.
VAULT coin trades on CREX24, HypeCoin Exchange and SouthXchange, and we continue to see a majority of trading now occurring on SouthXchange.
The Minimum Guaranteed Price https://vaultility.vault.investments/ buy wall of 987.38 VAULT at 10,500 Satoshi was maintained with 3.42 VAULT above the wall on SouthXchange. There is still a smaller buy wall of 100.04 VAULT on CREX24 with 0.04 VAULT above the Minimum Guaranteed Price (MGP) of 10,500 Satoshis.
The current price average on all exchanges is 10,895 Satoshi (0.00010895).
In addition to the platform, products, use, and demand, VAULT continues to benefit greatly from being tied to Bitcoin. This week we saw BTC have a nice bounce up with a gain of 13.5% for the week.
Bitcoin (BTC) Update
Bitcoin mining has seen a big shift recently. The USA has overtaken China in terms of hash rate. Will this trend continue? Will the USA continue to develop more efficient and clean methods to mine Bitcoin?
Senators are starting to lobby for increased mining in their states. Senator Cruise thinks Bitcoin mining might help improve Texas’s power grid issues.
We are even seeing big tech looking to invest heavily into Bitcoin mining.
This should spell good news for cryptocurrency use and adoption in the United States. Congress is still looking over bills to limit and tax cryptocurrency. The more economic mass that is put into and generated from crypto, the harder it will be for Congress to enact strict regulations as those regulations will adversely impact significant business and tax revenues in the future.
Cryptocurrency News This Week
VAULT Crypto Portfolio Tracker
I wanted to give you a running tally of what you could potentially be earning with VAULT. The example I’m using is holding 1000 VAULT with 0.1 BTC invested in the BTC% program (check it out here).
I wanted to show you what kind of returns you could be earning weekly and cumulatively.
1,000 VAULT with current ~24% ROI generated 4.76 VAULT blockchain rewards this week for a total of 1,142.50 VAULT over the past 28 weeks if you compounded your daily rewards with 100% reinvest on the VAULT platform. Total is now 1,142.50 VAULT. The total dollar value earned is $953.33 at VAULT’s current price of $6.69 (0.00010895BTC). The total BTC value earned at VAULT’s current price is 0.0155.
Investing 0.1 BTC in the BTC% program earns you 11% APR, giving you a weekly return of 0.00021089 BTC. Over the last 28 weeks, this would be worth 0.00590 BTC with a current value of $361.59.
The current total value of your potential returns over the past 28 weeks would be $1,314.92 or 0.0214 BTC.
We Are Here to Help You DYOR (Do Your Own Research)
I hope this week’s update on Bitcoin ETFs and mining has been helpful.
If you have any questions, please feel free to post or contact me Bobtilladhun or any team member on VAULT Investments Discord server:
VAULT Global Ambassadors
We want to again invite people to become a VAULT Ambassador. It is a great way for us to spread the great news of VAULT investments to everyone around the world. If you would like to join our growing international community, please click here for more information.
kikiriki#9227 — Greece
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wltjnes1#1227 — Nigeria
Long Miguel#6762 — Vietnam
This is not financial advice. VAULT Investments provides a service to its clients and is not responsible for projects listed or featured in its platform or ecosystem. The views and opinions in this update are my views alone and are not necessarily those of VAULT investments or its administration. Users should always DYOR. Invest at your own risk.
About the Author:
My Discord handle is Bobtilladhun.
I’m a long-term crypto investor. I bought my first Bitcoin in 2016 for $700. I sold 1/2 my BTC when the price doubled to satisfy my wife that I wasn’t going to lose all our money and made my initial investment back. Since that time, I have used my remaining Bitcoin stack to HODL and invest in interesting projects. I am a founding investor in VAULT and have accumulated a significant number of VAULT coins through holding my coins in CRYO and taking advantage of the compounding interest VAULT provides.
I was asked by Ian and the VAULT team to provide a weekly update on VAULT’s performance and current issues in cryptocurrency.
I hope these updates provide you with a quick overview of what is happening with VAULT and in the world of cryptocurrency.
Please contact me on Discord if you have any comments or suggestions.