Home CryptoBitcoin Bitcoin, ‘The Bottom Line’

#bitcoin #crypto #cryptocurrency #fed #sec

$BTC

Bitcoin was the 1st cryptocurrency and it is the best known, most widely held, and with about 46% of the total cryptocurrency market cap, and the most valuable”–Paul Ebeling

The Big Q: Is Bitcoin the only cryptocurrency?

The Big A: No.

As of June 2022 there were more than 19-K digital currencies in the marketplace, of which more than 40 had a market capitalization exceeding $1-B. Some of the more popular cryptocurrencies include BNB, USD Coin, Cardano, Tether, Ethereum, Polkadot, and XRP.

Fed Chairman Powell and SEC Chairman Gensler both have stated that they did not intend to outlaw cryptocurrencies, but Mr. Gensler said the SEC was exploring how best to ensure that the industry protects investors and consumers and follows anti-money laundering and tax compliance laws.

China launched a digital RMB Yuan in Y 2021 and it is estimated that at least 80 different countries around the world are exploring the idea of launching their own proprietary Central Bank Digital Currency. In March 2022, US President Biden signed an executive order outlining the US government’s objectives, policies, and actions regarding cryptocurrencies, stablecoins, central bank digital currencies (CBDCs), and other digital financial instruments that utilize distributed ledger technology (i.e. blockchain). The purpose of the order is to ensure US competitiveness in the crypto space, while also supporting responsible innovation, consumer and investor protection, financial stability and inclusion, and the reduction of illicit finance.

Bottom line

Knightsbridge monitors cryptocurrencies as regulations and technology evolve. While some traders have made money on the change in price of Bitcoin or other cryptocurrencies, most investors continue to treat them as a speculative asset primarily for trading with money outside a traditional long-term portfolio.

A tip of my hat to sovereign individuals with satoshis and Bitcoin in cold storage with our firm. Click here

Check Price Action

Have a prosperous weekend, Keep the Faith!

You may also like

logo-white

Your Trusted Source for Capital Markets & Related News

© 2023 LiveTradingNews.com – For The Traders, By The Traders – All Right Reserved.

The information contained on this website shall not be construed as (i) an offer to purchase or sell, or the solicitation of an offer to purchase or sell, any securities or services, (ii) investment, legal, business or tax advice or an offer to provide such advice, or (iii) a basis for making any investment decision. An offering may only be made upon a qualified investor’s receipt not via this website of formal materials from the Knightsbridge an offering memorandum and subscription documentation (“offering materials”). In the case of any inconsistency between the information on this website and any such offering materials, the offering materials shall control. Securities shall not be offered or sold in any jurisdiction in which such offer or sale would be unlawful unless the requirements of the applicable laws of such jurisdiction have been satisfied. Any decision to invest in securities must be based solely upon the information set forth in the applicable offering materials, which should be read carefully by qualified investors prior to investing. An investment with Knightsbridge is not suitable or desirable for all investors; investors may lose all or a portion of the capital invested. Investors may be required to bear the financial risks of an investment for an indefinite period of time. Qualified investors are urged to consult with their own legal, financial and tax advisors before making any investment. Knightsbridge is a private investment firm that offers investment services to Qualified Investors, Members and Institutions ONLY. Qualified Investors are defined as individuals who have met those Qualifications in the relevant jurisdictions. Members are defined as individuals who have been accepted into the Knightsbridge membership program. Institutions are defined as entities such as banks, pension funds, and hedge funds. If you are not a Qualified Investor, Member or Institution, you are not eligible to invest with Knightsbridge. All investments involve risk, and there is no guarantee of profit. You may lose some or all of your investment. Past performance is not indicative of future results. Knightsbridge is not a registered investment advisor, and this disclaimer should not be construed as investment advice. Please consult with a qualified financial advisor before making any investment decisions. By accessing this website, you agree to the terms of this disclaimer. Thank you for your interest in Knightsbridge.