ways to make money in a small town – Lets talk about the new Bitcoin ETF, why experts believe it could soon reach $100,000, and the problem with the stock market in relation to the new debt ceiling – Enjoy! Add me on Instagram: GPStephan
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ways to make money in a small town
This all started when a Bloomberg article claimed that “The SEC is poised to allow the first U.S. Bitcoin futures exchange-traded fund to begin trading in a watershed moment for the cryptocurrency industry, according to people familiar with the matter.”
This ETF is what's known as a “FUTURES” contract…which means, instead of buying into a fund that owns bitcoin, you’re buying into a fund….that enters a contract…to buy bitcoin at a certain price in the future.
Most likely, this is NOT something that retail investors are going to be buying into….BUT, it does provide the FIRST stepping stone for institutional investors to dip their toes in Bitcoin, and move in the direction of eventually allowing a traditional Bitcoin ETF to hit the market.
Now, there IS always a chance that the SEC blocks this ETF from happening in the last minute…and, if that happens – undoubtably, that will affect the entire cryptocurrency market….but, if it’s allowed to trade…it will help bring more widespread adoption throughout the markets, and…over time, some say that even $100,000 could be a conservative price target for the future.
THE DEBT CEILING:
This is the MAXIMUM amount of money that the US Government is allowed to borrow, to pay for all of its obligations, like social security and medicare benefits, salaries, interest on the national debt, tax refunds, and a multitude of other responsibilities that need to be taken care of…but, once that limit is reached…well…all of those services can’t be funded.
As of now, the United States ALREADY hit its debt ceiling limit in July, at $28.4 TRILLION DOLLARS…and, for the last 3 months…they’ve resorted to “Extraordinary Measures” to cover the deficit, including borrowing less from state and local governments, and temporarily halting re-investment back into the economy.
Short term, until this is resolved…we could continue to see a panic throughout the stock market as it tries to price in the slim, slim possibility of a government default…but, as we can see…historically…even in 2011…the markets will recover, and any short term drop could wind up being a great opportunity to buy in at an even lower price.
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*Some of the links and other products that appear on this video are from companies which Graham Stephan will earn an affiliate commission or referral bonus. Graham Stephan is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. This is not investment advice. Public Offer valid for U.S. residents 18+ and subject to account approval. There may be other fees associated with trading. See Public.com/disclosures/