Whereas Satoshi Avenue eagerly awaits the launch of the primary Bitcoin ETF, Bitcoin maximalist Max Keiser has been elevating pink flags towards the monetary instrument.
Will US Govt. Confiscate Bitcoins?
Bitcoin advocate Max Keiser has raised considerations, asserting that holders of BTC ETF (Alternate-Traded Fund) are usually not safeguarded towards potential authorities seizure. Keiser alleges that the U.S. authorities has intentions to confiscate all Bitcoin held inside ETFs, citing nationwide safety pursuits because the driving pressure behind such a transfer.
He additionally cited an excerpt from the Valkyrie Bitcoin Fund Type S1 Registration Assertion {that a} US federal regulator can pressure the Belief to liquidate the Bitcoin of “seize”, “impound”, and “prohibit” entry to the Belief’s belongings.
Keiser argues that this could be very a lot towards the decentralized nature of Bitcoin. Word that the spot BTC ETF points shares towards the bodily Bitcoin purchases. Nonetheless, it stays with the designated custodians, not like the self-custody. Just lately, SEC veteran additionally criticized the Bitcoin ETF applicants whereas referring to them as opportunists.
https://t.co/1rLrQVspus pic.twitter.com/po96XAHOuA
— Max Keiser (@maxkeiser) January 7, 2024
Bloomberg’s senior ETF strategist James Seyffart noted: “Nonetheless outlandish the prospect of this can be in my view. It’s the primary criticism of Bitcoin ETFs that I’ve seen from Max in latest days that I suppose is technically true?”
Nonetheless, Seyffart added that one ought to chorus from investing in BTC ETF if they’ve considerations about Govt. seizure or need to hedge towards the societal collapse.
Gold ETF vs. Bitcoin ETF
There’s been a dialogue about whether or not the BTC ETF would have the ability to garner the identical enthusiasm that the Gold ETFs did. Additionally, whether or not they would offer the identical degree of security just like the Gold ETFs.
Bloomberg ETF strategist James Seyffart has weighed in on the comparability between gold ETFs and Bitcoin ETFs, asserting that gold ETFs face extra potential points, together with considerations about impurities and pretend bars. Seyffart emphasizes {that a} BTC ETF, particularly one with proof of reserves and clear practices reminiscent of sharing addresses, might current fewer dangers in comparison with gold ETFs.
Truthfully. Nonetheless outlandish the prospect of this can be in my view. It’s the primary criticism of #Bitcoin ETFs that I’ve seen from max in latest days that I suppose is technically true? https://t.co/kyjQx9IGsM
— James Seyffart (@JSeyff) January 7, 2024
Nonetheless, one consumer aka Bitcoin Lens on X platform countered James Seyffart stating: “Bitcoin ETFs are far more simpler to confiscate by governments. A decree to show over the keys to authorities. Completed. When it’s so straightforward to do, they are going to be extra tempted to do”.
Responding to it, Seyffart mentioned: “I imply. Ofcourse. Similar might be mentioned about gold in vaults. It’s actually occurred earlier than. However nothing concerning the ETF is stopping you or anybody else for that matter from preserving your Bitcoin in chilly storage. Thats my level”.
The introduced content material might embody the non-public opinion of the creator and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The creator or the publication doesn’t maintain any accountability in your private monetary loss.
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