Feb. 22, 2022
Dear SEC, I’m writing to support the conversion of Grayscale Bitcoin Trust (Symbol: GBTC), currently the world’s largest Bitcoin fund, to the first Spot Bitcoin ETF in the United States. I believe that since the advent of the computer and subsequently the internet, we have been accelerating toward a digital centric world that can afford us unparalleled efficiency when utilized properly. Just as Zoom calls has allowed us to navigate the Covid-19 pandemic as we never could have in the past, it has now led to a revolution in the way we conduct work as Charlie Munger was just recently quoted saying “the five day in office work week will never come back”. As far as the technology of cryptocurrency is concerned, I believe the decentralized foundation of blockchain has the ability to revolutionize the financial and economic world if utilized properly. Yet, there are plenty of credible ethical concerns that arise with cryptocurrency as well. However, the way I see it, there is no denying the staying power of the technology behind cryptocurrency due to its clear foundational advantages when compared to its preceding system. Rather than trying to stall what the free market and the natural law of darwanism will eventually have prevail, instead I think the legalization and generation of strict regulation of the technology along with the calculated integration with the old system is the best path for our society. Sincerely, Andrew Dunne