BMJ Reward Tokens: 35,370

Health, Wealth, and Happiness

January 19, 2024

"A few years ago I read one of your books ... and as the down years of crypto 2022 and 2023 went by, I kept reciting the phrase in my mind, 'Zig when everyone else is zagging' that I learned from your book. Even though I had my doubts, I stuck to the crypto plan I made in 2021 and it finally started paying off. Thank you for the advice and keep up the good work."

- R.B., Bitcoin Market Journal subscriber

Howdy, investors!


  • While it's fashionable to criticize SEC Chair Gary Gensler, today's "Open Letter" looks at his positive contributions, and encourages him to double down on what he's done right.


  • Coinbase continues its fight with the SEC to determine whether crypto assets are securities - or something else.


  • Bitcoin has become the second largest commodity ETF, surpassing silver, in under a week.


  • The SEC has delayed spot Ethereum ETF approvals, with a decision now expected by late May.


Read on to explore more!

An Open Letter to Gary Gensler

by John Hargrave

Dear Mr. Gensler:

 

Unlike many of my colleagues in the digital assets industry, I sympathize with you.

 

I feel that yours is one of the most difficult jobs in government, since one prong of your mission at the SEC is to “protect investors.”

 

The irony, of course, is that investors must be protected from themselves.

 

I see the SEC pursuing investor protection in two primary ways:* reactively (though lawsuits and litigation), and proactively (though education and advancement).

 

While the SEC’s numerous lawsuits have made the headlines under your leadership (reactive), I suggest your agency invest even more into education (proactive).

 

Under your leadership, the SEC should focus less on litigating and more on educating.

 

Here I want to compliment you on a few educational initiatives I’ve seen under your administration, and suggest how you could double down.

Read the rest of the article here >>

Premium Power-Ups

Level up your crypto investing game.


New Blockchain Investor Scorecard: Cosmos (ATOM)

We're happy to release our latest investor scorecard on Cosmos (ATOM).


While this is a new scorecard, Cosmos dates back to 2014. They published their initial whitepaper in 2016, and the ATOM token was launched in 2017.


Users can now earn ATOM through a hybrid proof-of-stake algorithm. ATOM staking secures the project’s flagship blockchain, Cosmos Hub, while also playing a role in the network’s governance.


Cosmos claims to solve some of the blockchain industry's hardest problems, namely, moving away from slow, expensive, unscalable, and environmentally unfriendly proof-of-work blockchains onto ecosystem-connected blockchains.


So, why are people investing in ATOM aside from staking rewards -- and should you consider it? Read our Blockchain Investor Scorecard to find out.


Not yet a Premium member? Sign up now to get access to our industry-leading library of investor scorecards.

Must Read

Today's most important stories for crypto investors.

Coinbase and the SEC Argue Crypto's Key Legal Question in Court (Axios)

Coinbase and the SEC are entangled in a crucial legal battle, with the future of crypto regulation at stake. The court's decision is highly anticipated, but recognizing the complexity and far-reaching consequences, the judge refrained from immediate judgment, indicating the matter might ultimately require legislative intervention from Congress.

Bitcoin Surpasses Silver to Become Second Largest ETF Commodity in the US (The Block)

In just a week of trading, bitcoin ETFs have surpassed silver ETFs in the U.S. by assets under management (AUM). The collective bitcoin ETFs now manage about 647,651 bitcoins, valued at $27.5 billion. The robust market response, characterized by high trading volumes and competitive fee structures, signals a strong appetite for crypto-based investment products.

SEC Delays Fidelity’s Ethereum Spot ETF; Decisions Still Expected in May (CryptoSlate)

The U.S. Securities and Exchange Commission (SEC) has postponed its decision on Fidelity's proposed spot Ethereum ETF, extending the deadline to March 5, 2024, from the initial date of January 20. While the approval of Ethereum ETFs is uncertain, a prediction market indicates a slightly more than even chance in favor of their approval.

ICYMI
In Case You Missed It

The New Bitcoin ETFs: How to Invest in 2024

Meet the 11 new ETFs, and our research on each.


Gold ETFs vs. Bitcoin ETFs

+ what we can learn from history.


The Bitcoin ETF is Here!

Plus, our crypto trends for 2024.


Inside MicroStrategy's $5 Billion Bitcoin Bet

Is $MSTR a good buy?


Why We Need Cryptopunks

Activism is the only way out.

Best Stablecoin Interest Rates

The best rates for staking and lending stablecoins this week.

Click here to see our current rates, updated weekly.


Note: Nexo rates are dependent on your Nexo Loyalty Tier, which is based on the number of Nexo tokens held in your account. Your rates may vary.

Share This Meme
Copy, paste, and post

Rule of thumb: when in doubt, HODL.

(Thanks to u/OgMcSlizzle)

Share the Love
Help grow our crypto investing community.
If you were forwarded this newsletter, join the movement.

If you loved this newsletter, share the love.

Bitcoin Market Journal is a daily newsletter that makes you a better crypto investor. It's created by John Hargrave, Steve Walters, Gerald Jackson, Anatol Antonovici, Matthew Du, Daniel Joel, and Preetam Kaushik.


Both free and Premium subscribers get content to build them into better investors.


Upgrade to Premium and get access to our top crypto picks while earning valuable Premium rewards!

Twitter  Linkedin