Last week, the SEC again delayed its decision to approve a Bitcoin ETF. The recent action came as SEC Chairman Gary Gensler called for more regulation and greater investor protection for cryptocurrency exchanges.
So far, there are eight other bitcoin ETFs that have been filed with the SEC. Coinbase, the world's largest cryptocurrency exchange, is the top 10 holder of ARK Innovation, Cashwood's flagship fund. The Grayscale Bitcoin Trust also ranks in the top 10 in the ARK Next Generation Internet ETF (ARKW).
Donnamu Sister believes that if 1% of corporate cash of all companies in the S&P 500 is converted to Bitcoin, the price will rise by more than $40,000, and each company's cash level will increase to 10% in the broader stock index. If you do, the price of Bitcoin will rise above $400,000.
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