Sideshow Enter the AFR Economics editor. The article makes the case that the legitimisation of bitcoin through the ETFs essentially blesses the use of digital assets. This will usher in an era of government issued central bank digital currencies which people will naturally prefer to bitcoin. Unbacked cryptocurrencies such as bitcoin are one, but they

Consensus Is it time to jump on the “Bitcoin bandwagon” asked the AFR. Their full article here is not unreasonable; urging caution and small allocations. “Most advisers, and their licensees, will give them a wide berth at least until there’s a solid performance track record, and an ‘investment grade’ asset consultant rating,” Even now, with

ETF In the end; it was an embarrassment. First of all, the SEC Twitter account announced on Wednesday that the ETF had been approved. Some 15 minutes later, the Chairman of the SEC popped up to claim that the account had been hacked and no such thing was true. A further 15 minutes after that

2023 Last one for this year. Thank you for your emails and support throughout the year. Increasingly it is noticeable that people understand bitcoin and decentralised protocols and what they are trying to achieve. MoneyBits will return on the 12th January … unless something happens in the meantime. If you are short of something to

The price of the ETF And so. We start to see the price of having a bitcoin ETF. Brisbane-based Wallet of Satoshi (WoS) has removed itself from the US App Store. WoS is probably the most successful Australian firm in the entire space with users all over the world. They have done a terrific job

Yellen dances on CZ’s grave The big guns were rolled out in the US late on Tuesday after Binance CEO Changpeng Zhao (CZ) pleaded guilty to charges of money laundering in the US. On the left, US Attorney General Merrick Garland; the most senior lawyer in the country. Next, Treasury Secretary Janet Yellen; the most

A big day Today is the last possible day that the SEC could approve all current Bitcoin ETF applications simultaneously. It arises by virtue of the way the various deadlines roll out, with Hashdex and Franklin hitting their first deadlines (I’ve never heard of them either). This would have the advantage of creating a level

In a different universe On the left, the branding of one of the largest fund managers in the world. On the right. Fidelity Digital Assets, launched 2018. If you have a hugely valuable brand you do everything to protect it and you can see the subtle strategy here. It looks like Fidelity on the right,

Bond Vigilante The Chris Joye fan club were out in force again this week after he “brilliantly showed” how it’s an everyday occurrence to get 5-6% on your cash. I brilliantly googled it and the first thing that came up was 5.6%. The fan club appeared to be suggesting why take the risk of being

Statistics I would probably doubt Josiah (1880 – 1941; former Bank of England Director) were it not for my own experience with statistics. On taking a new job in finance some years ago in the UK, I was presented with a form for signature. It was from the ONS, Britain’s Office of National Statistics. “What’s