July 11, 2018
Dear SEC Official,
I’m writing this to show my support for the creation of a Bitcoin ETF as I believe that this will provide a public service to the country, particularly to millennials (my generation).
Arguably, the biggest issue facing my generation is our overwhelming burden of college debt that is preventing us from making as much money as our parents did for the first time in any American generation, making it harder to purchase homes which will negatively impact the real-estate market, and may very well be the catalyst that will lead us into another recession.
Millennials make up the largest percentage of investors in Cryptocurrencies and creating a Bitcoin ETF will help to reduce the amount of debt we have, bolster the real-estate market as millennials take profit from Crypto and put it into housing/land, free up our spending power which will bolster the economy, and help to minimize the chances of the college-debt bubble popping and disrupting the American economy. Not to mention it should be easier to track Bitcoin owners and therefore increase tax revenue for the Government.
As a Millennial myself, I’ve been looking around for areas to invest my money into that have the highest likelihood of helping me to pay off these debts without the process taking decades due to high interest rates on loans. The stock market looks like it might be correcting, a trade war with China seems to have just kicked off, and Real-Estate prices are incredibly high (at least in MA where I live). The only areas that I see having potential to increase in value at this moment are Bitcoin and Natural Resources like Gold/Silver which are all over sold at the moment.
I believe that it is time for Millennials to be given an additional tool to attack the mountain of debt that sits on our shoulders. I believe that it is time for a Bitcoin ETF.
Thank you for reading and I hope you take my thoughts on this matter into your consideration of approving a BTC ETF.
Regards,
Will Watson IV