Feb. 22, 2022
SEC, I’m writing to support the conversion of Grayscale Bitcoin Trust (Symbol: GBTC) to a Spot Bitcoin ETF in the United States. Canada, Brazil, Europe and others have Bitcoin spot ETFs. The US does not. It is a fact, over the past ten years of Bitcoin history, volatility has been declining. SEC EXCHANGE SURVEILLANCE IS NOT THE MAIN VARIABLE FOR REDUCING BITCOIN MANIPULATION. More participants engaged in Bitcoin will bring more and different types of information to bear on the price. As Bitcoin become more active and liquid, more arbitrageurs will also emerge, profiting by correcting small inefficiencies whenever they might arise and continue to improve efficiency. With time, anybody with a phone will be able to buy bitcoin without having the risk of some central bank evaporating their fiat savings away. It gives me great satisfaction knowing Bitcoin is radically inclusive regardless of SEC trying to “protect” investors. I personally witnessed the poor, the unbanked, in El Zonte, El Salvador, build savings and build e-commerce. In that small community, Bitcoin is fixing our woefully broken monetary system. Thank God The SEC, The FED and The US Treasury are not in El Zonte “protecting” investors. For the sake of the poor and the unbanked, approve the conversion of Grayscale Bitcoin Trust (Symbol: GBTC) to a Spot Bitcoin ETF. More participants engaged in Bitcoin will bring more information to bear on the price, improving efficiency and accelerate the reduction of inefficiencies and manipulation. Best regards, Bryan Solstin I have 21 more reasons on my website. https://protect2.fireeye.com/v1/url?k=31323334-50bba2bf-3132d782-4544474f5631-e2ee3dc84ebf6bf4&q=1&e=efab6a7a-61e6-4422-87f0-35b0b23c4ce3&u=https%3A%2F%2Fzenimal.xyz%2Fuse-cases