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Get Over the Bitcoin ETF and Focus on Bakkt

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According to Dan Morehead, focusing on the Bitcoin (BTC) ETFs right now is a waste of time and effort. He believes that it is still too early to have ETFs approved and that this focus should be directed at Bakkt since it will be a much bigger deal in the long run.

Stop talking about ETFs

Ever since the SEC started receiving requests for Bitcoin (BTC) ETFs, the entire crypto space got very excited about the possibility of having them approved. This has reflected strongly on the price of cryptos as well, as many coins, led by BTC itself, went through a significant price increase.

However, while the SEC did not reject all of these requests, they certainly did destroy the initial excitement by delaying their decision. These reports also reflected on the prices, and cryptos fell right back to where they were before the initial excitement took place. One thing that many often forget, however, is that the ETFs, while important for the further development of the crypto world, are not the only big crypto-related thing that is going on right now.

According to Pantera Capital’s CEO, Dan Morehead, the investors need to forget about the ETFs for now and focus more on a new crypto venture called Bakkt. Bakkt has a potential to tap into numerous companies and brands and to make use of their expertise. It even has a potential to become a real game-changer for the entire crypto market. Additionally, considering that some pretty big and reputable names are behind it, Bakkt can also inspire trust in institutional investors, and finally, bring many of the more careful ones to the crypto space.

Because of that, Morehead’s idea is to stop focusing on the ETFs of today and focus on Bakkt more. If everything goes according to plans, there will come a day when Bakkt will be able to facilitate as many BTC ETFs as necessary. However, to do that, it has to kick off first, and it needs the investors’ help to do it.

Bakkt needs patience, but it is worth it

In his recent interviews, Morehead stated that the new approaches to issues that are bothering the SEC are not good enough to convince them to allow BTC ETFs. Because of that, all the effort behind these requests might end up being for nothing. Even though the SEC has postponed making the decision, Morehead doesn’t believe that anything good will come out of it.

He also stated that ETFs will likely not arrive anytime soon. He compared cryptos to copper, stating that copper was the last asset to get ETF approval, and that is a resource that has been on Earth for thousands of years. Cryptos, however, have been around for only 9 years now, and so he doesn’t believe that they will see that kind of breakthrough just yet.

He then decided to focus everyone’s attention on another big news regarding the crypto world, which is the creation of Bakkt. ICE, the parent company of NYSE, decided to launch a new crypto platform in collaboration with some pretty large names. Those include Microsoft, Starbucks, and more. This is a huge deal for the crypto space, and it will bring significant changes over the next few years. Even if it takes an entire next decade, the crypto world will be a very different place due to the creation of this platform.

This is why Morehead believes that Bakkt is the project that should get all the attention now. It is important to remember that, while Bakkt does promise some big changes, they will take time to arrive. Bakkt can be seen as a project that is playing the long game, and as such, it requires patience and dedication. So far, the project has received its fair share of attention and support, but it can always use more.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Bitcoin

Trusted Crypto Tumbler To Protect Your Wealth

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Back when Bitcoin originally emerged, over 11 years ago at this point, cryptocurrency transactions were believed to be fully anonymous. This belief stuck around for years to come, but today, we know that, in most cases — this is no longer the truth.

Since the invention of blockchain explorers, it became possible to track every Bitcoin transaction, all the way back to the genesis block. This came as a part of blockchain transparency which promises to eliminate corruption, theft, and other such issues.

However, there is still a need for a certain level of privacy, as people like to keep their wealth to themselves, and not let everyone know how much money they have, or how much they sent for whatever purpose. This is why many are now using crypto tumblers, or mixers.

What do crypto mixers do?

As the name suggests, crypto mixers/tumblers mix up the coins in order to hide/disguise/make it difficult to discover where the coins came from. Things like the amounts, transactions, and wallet addresses to and from which the coins travel are fully traceable, which is why tumblers exist.

In a way, you could say that mixers can add an extra layer of privacy while using Bitcoin, Ethereum, Litecoin, and many other cryptocurrencies. There are many Bitcoin mixers Continue Reading

Bitcoin

5 Best Places to Bet with Bitcoin

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It seems like BTC is always making headlines for one reason or another.

When the market points towards bullish behavior Bitcoin is all the rage. When there is so much long action (going on right now) and then the price plummets, BTC also dominates the headlines. The same goes for legislation and when any new crypto product or platform comes out. It’s always compared against BTC.

So with BTC fever in full swing, sportsbooks around the world have adopted digital currencies as one of their main forms of funding accounts and paying out winnings. And with sports betting legalized in states across the USA, both BTC and legal online gambling are in the limelight. 

But where are the best places to bet using BTC and other cryptos? Furthermore, why would you want to use BTC, LTC, or Ethereum in this manner?

The Why

The principal reason why you would want to use cryptocurrencies in your ‘sports investing’ ventures is speed, cost, security, and bonuses.

When you use cryptos like BTC (BTX) to move money in and out of your account. You bypass the standard centralized banking system which drastically improves on both the speed of the transaction and the cost of the transaction – this is especially true with payouts. 

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Bitcoin

Bitplaza Inc Introducing Cryptocurrency to Retail

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Even though influential companies are not ready to validate cryptocurrencies as a stable form of money, Bitcoin is becoming a more frequently used currency daily. There is a rising number of companies that accept Bitcoin for the purchase of their products, validating it as a spendable currency around the globe.

Bitplaza Inc took the next step into technology and commerce, providing customers with a platform where they can spend Bitcoins for their needs through a mobile device. It opens the opportunity for companies and brands to list their products in exchange for Bitcoin, which will give more credibility to the coin.

What is Bitplaza?

Bitplaza is a shopping app that belongs to a retail company called Bitplaza Inc, located in Pennsylvania. The app is available on both Google Play and the Apple App Store. Bitplaza allows anyone globally to purchase brand new items with Bitcoin. The app has a wide variety of products to buy online, from electronic devices, video games, even groceries. The products that can be purchased from the app range from popular brands such as Sony, Starbucks, Adidas, Apple, and many more. The Bitplaza team is always adding new products to the shopping app, making more items available to be purchased with Bitcoin. The app covers a broad range of products for the different needs of the…

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