⌐◪-◪ → FINALLY! The SEC aproved 11 spot Bitcoin ETFs yesterday, and this time it wasn’t fake!

Coincidentally, the approval came exactly 15 years after Bitcoin pioneer, Half Finney’s, iconic ‘Running Bitcoin’ tweet. Hal sadly passed in 2014, but was the 1st person, besides Satoshi Nakamoto, to download and run Bitcoin software.

While Gensler did vote to approve the spot BTC ETFs, he couldn’t help but roast Bitcoin one last time in an official statement from the SEC - stating that, “while we approved the spot bitcoin ETP shares, we did not approve or endorse bitcoin”. What a petty cope, and ironically, an amazing endorsement for Bitcoin.

Looking forward, things are bullish. Bloomberg predicts $4B of spot BTC ETF inflows on day 1, today. Hong Kong is playing catchup, trying to approve their own BTC ETFs. And last but not least, Ethereum ETFs might come as early as May.

Also, brace yourself for endless Bitcoin ETF commercials.

⌐◪-◪ → For somebody who allegedly spends zero time thinking about crypto, Elon’s been talking about crypto a lot.

Yesterday, on X-Spaces with Catherine Wood from Ark Invest, Elon said it would make sense to use a cryptocurrency on Mars.

While he initially dismissed Bitcoin—due to long reconcillation time and the fact that Mars is 20 light minutes away—he later concluded it might be feasible.

This really makes you wonder…

Will we eventually have Bitcoin nodes in space? And can a blockchain go intra-galactic and maintain consensus? Or is that level of decentralization impossible due to the laws of physics and the speed of light/information?

Bonus: Elon also said he’s open to using Bitcoin on X. Bullish.

⌐◪-◪ → Just when we thought things couldn’t get more bullish, Circle announced that they filed for an IPO, and they couldn’t have picked a better time given the massive tailwinds from the spot BTC ETF approvals.

The company is doing a phenomenal job bridging the TradFi and DeFi worlds. Their stablecoin $USDC, is the second largest in the world, with a market cap of $25.25B.

Finacially, the company is in a very strong position. Here’s a little snapshot:

• 2022: $800m Revs / $150m Profits
• 2023: ~$1.5bn Revs / ~$300m Profits

Note: This is not Circle’s first attempt at the public markets. In July 2021, the company planned to go public via SPAC—which were all the rage at the time—but it fizzled out.

While I’m definitely excited about the BTC ETF approvals and Circle’s upcoming IPO, a small part of me is worried that the suits are taking over and crypto’s original vision is eroding.

Never forget: not your keys, not your crypto.