February 10, 2022
The SEC must do what ever it can to tightly regulate any activity involving cryptocurrencies. It appears that a majority of the buyers have no idea about investments and risk, nor that the \"currencies\" they are purchasing have no backing except word of mouth. The investors in Dogecoin, for instance, are putting real money into what was created as a joke. But it has no less backing than any other cryptocurrency, whether 50 cents of $40,000. Watching Elon Musk make a comment that drops a Bitcoin $3000 almost instantly, or mention Dogecoin, and see it almost double overnight does not, in my view, make them legitimately investable. By approving Bitcoin or other cryptocurrency funds or ETFs, the SEC would legitimize an investment value for something that, in truth, has no real value.
Thank you for protecting investors from folly.
Now could we get on a more important topic, BRING BACK THE SHORT SALE UPTICK RULE, which will curb excessive market declines.