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Author Topic: [2017-02-26] A binary bet on the Bitcoin twins  (Read 146 times)
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February 27, 2017, 07:14:02 AM

Before they were the Facebook twins, this time they are the Bitcoin twins. And judging from how much attention the COIN ETF is getting on the media I'm a bit bullish I must say.

Bits, the units of information that underlie any digital currency, have only two values: zero or one. Perhaps it's time investors were reminded that buying bitcoin is a similarly binary wager.The virtual asset is trading at a record, shrugging off a campaign by the People's Bank of China to control trading. Underpinning its rise is the hope that American entrepreneurs Cameron and Tyler Winklevoss will succeed in their attempt to create the first bitcoin exchange-traded fund.On March 11, the twins are expected to receive a final decision from the U.S. Securities and Exchange Commission on whether they can list their ETF. A favorable outcome would create a precedent and pave the way for other providers.There are two more funds seeking a review from the regulator -- one of which already trades over the counter -- and talk abounds of many more.


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