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Bitcoiner Tips
Never be short on the world's greatest asset of all time. Don't be a Gareth!
https://x.com/i/status/1855954638941348274
GM Bitcoiners ☕Have a good one!
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The golden arches destination of all those short on the greatest asset in all of history.
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If you are gullible enough to believe this, then I don't have time to convince you otherwise, sorry."-Ancient Bitcoin Proverb
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Hey Bitcoiners and everyone. Looks like a Js library has compromised Primal. If you are getting popups don't connect...see below. Pass it on.
nostr:nevent1qqs8pl0yqeghvteht35pv8p4atjyrwddnr5dmqtd5krg69ed82wsrwc8hwqut
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Bitcoiner News
The Mexican Peso (MXN) has been one of the strongest currencies against Bitcoin. Yet to have seen an ATH this cycle until now.
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Bitcoiner News
Japanese firm, Metaplanet has been regularly buying Bitcoin. They now have over 1000 Bitcoin in their Corporate Treasury.
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Bitcoiner News
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$3.1 Trillion dollar tech giant, Microsoft will take up a vote on a proposed board resolution for an "Assessment of Investing in Bitcoin". The board has recommended an against position. However, Blackrock is it's 2nd largest shareholder. The vote for the assessment is to take place in December, per SEC filing.
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Bitcoiner History
12 years ago, when Bitcoin was trading at $3.41, the very first mention of Bitcoin appeared on television. It was on a show called The Good Wife.
https://m.primal.net/LffH.mp4
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GM Paranoid Crypto Anarchists ☕️
If you are one, drop a GM. Have a good one!
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Bitcoiner News
Jamie Dimon announces support for Kamala Harris and would be open to a role in her administration.
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Bitcoiner News
SEC Approves Options on ETFs
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The SEC has given the green light for options trading on Bitcoin ETFs available on major U.S. exchanges, including the New York Stock Exchange (NYSE) and the Chicago Board Options Exchange (CBOE). This decision now allows investors to engage in options trading with Bitcoin ETPs such as the Grayscale Bitcoin Trust, Grayscale Bitcoin Mini Trust, and the Bitwise Bitcoin ETF.
Further, the SEC has expedited the approval for options trading on other spot Bitcoin ETFs including the Fidelity Wise Origin Bitcoin Fund, the ARK21Shares Bitcoin ETF, and the Invesco Galaxy Bitcoin ETF, which can be traded on these exchanges.
The filing details the conditions for these securities, highlighting that options trading will facilitate hedging strategies, enhance liquidity, and possibly decrease volatility within these Bitcoin ETFs.
Under the amended rules, these options can be listed and traded under Rule 915, aligning Bitcoin ETFs with other commodity-based ETPs, such as those backed by gold or silver.
The SEC has imposed stringent position and exercise limits on these Bitcoin options. Specifically, a cap of 25,000 contracts for Bitcoin Fund options has been set, which corresponds to approximately 0.9% of the outstanding shares for GBTC, 0.7% for BTC, and 3.6% for BITB.
Both the NYSE and its affiliate, NYSE Arca, are committed to sharing surveillance data with the Chicago Mercantile Exchange (CME) to closely monitor trading and detect any suspicious activities across both spot and futures markets. The strong correlation between CME Bitcoin futures and the spot market aids in identifying any potential manipulation, enhancing investor protection.
Moreover, the SEC pointed out that the limits placed on these options are among the most restrictive in the industry, ensuring a conservative trading environment suitable for large investors and hedge funds.
The document also explains how the structure of Bitcoin funds like GBTC, with their creation and redemption mechanisms, prevents any single entity from monopolizing the market, thus minimizing potential market impacts even if multiple parties reach the maximum position limits.
This approval marks a significant advancement in merging Bitcoin with traditional financial markets.
Notes by Bitcoiner Post | export