Jakarta, CNN Indonesia —
Currency price crypto- bitcoin jumped to US $ 61,074 thousand per piece on Sunday (17/10). bitcoin price up and down in the last 24 hours, but in a week the increase reached 10.71 percent.
Market participants hope that the increase in bitcoin prices will encourage the Securities and Exchange Commission (SEC) to allow cryptocurrencies to enter the capital market.
The SEC’s Office of Investor Education and Advocacy says before investing in bitcoin, make sure you carefully weigh the potential risks and benefits.
The SEC’s statement on Twitter may provide a regulatory green light for funds holding bitcoin futures contracts.
Many investment firms, including ProShares, Invesco, VanEck, and Galaxy Digital, have filed bitcoin futures ETFs with the SEC.
ETF firm Valkyrie, has also applied for a bitcoin ETF. The Nasdaq disclosed in an SEC filing that the Valkyrie fund is ready to go public on the exchange.
Bitcoin ETFs are a way for individual investors who want to make a profit, but don’t want to mine crypto independently. Because mining crypto requires tools to solve complex mathematical problems that generate new bitcoins.
Bitcoin bulls have been waiting for the SEC to approve it in hopes that the ETF will make it easier for the average investor to buy the crypto.
“It seems clear that regulators will soon approve multiple versions of the crypto ETF,” said Bitcoin IRA Chief Operating Officer Chris Kline.
He said the SEC is starting to understand how these assets are stored, secured, and reconciled, so that they can be accepted in conventional finance.
Previously, bitcoin experienced an increase in recent weeks. Last week, bitcoin recorded a value above US $ 50 thousand per chip. Then it rose back to US$55 thousand after investor George Soros invested his funds in this cryptocurrency.
Quoted from coinmarketcap.com, the price of bitcoin now ranges at US $ 61,172 per piece. This figure is still below the all -time high of $ 65,000 reached earlier this year.
Investors hope that, in addition to approving bitcoin ETFs, US financial institutions will continue to take a more measured approach to regulating this decentralized currency.
Federal Reserve Chair Jerome Powell and SEC chief Gary Gensler have suggested that the US will not crack down on crypto as China has.
However, opponents of bitcoin have been around for a long time. One of them CEO The JPMorgan Chase (JPM) Jamie Dimon that bitcoin is stupid gold and has no intrinsic value.
(fry/one)
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