The Securities and Exchange Commission announced earlier this month that investment firms can now sell Bitcoin via exchange traded funds, or ETFs, just as they do for stocks and bonds.
Bitcoin, a cryptocurrency without a central regulator, went up in value after the announcement. And for some investors, the SEC’s decision signals that crypto is moving into the mainstream as an investment option.
Tech expert Omar Gallaga spoke to Texas Standard about Bitcoin’s future.
Highlights from this segment:
– Some cryptocurrencies, like Bitcoin and Ethereum, have experienced a halo effect since the news – hitting high marks in value before starting another downward trend.
– Reactions have been mixed to the news from the SEC, with some Bitcoin fans expressing wariness.
– Speculation on the “death of crypto” a couple of years ago seem to have been largely premature, as the currency continues to gain traction.