Jun. 07, 2022
Dear SEC, I am Bryce Watts, a 25-year-old from Flint, Michigan, and I am in favor of approving the Form 19b-4 that NYSE Arca filed with you to convert Grayscale Bitcoin Trust (OTCQX: GBTC) into a Bitcoin Spot ETF. I know no one will read this, but it needs to be said: The SEC is supposed to help the average retail investor, not the minority elite. Please do your due diligence and learn more about how cryptocurrencies can help the average person and give them power over their finances rather than letting us be held back by large banking entities that have continually screwed us over: https://www.brookings.edu/research/an-analysis-of-financial-institutions-in-black-majority-communities-black-borrowers-and-depositors-face-considerable-challenges-in-accessing-banking-services/. An algorithm can't be racist. A bank can and has been! A deflationary currency is precisely what this world needs. We need to stop consuming the world's resources, and an inflationary currency only exacerbates the issue. When people feel they need to spend their money which is becoming worth less and less over time, it causes consumerism/consumption to plague our planet. Products are not made to last, which again hurts the average person. People think they need the newest iPhone that only offers a better camera rather than Apple taking its time to innovate and create better products with significant upgrades that can help humanity as a whole (at the most competitive price possible). Products would need to be made to last as people REALLY need to be convinced to spend their deflationary currency. Competition could also thrive as innovation would come from everywhere. Supporting Bitcoin is the best outcome for society, and I find it hard to believe that the people at the SEC disagree. Continue to support Keynesian economics, and we will continue to see a wealth gap that continues to increase until the poor majority begins to rebel against the government that has left them to the wolves. Please stop this madness and do one good thing while you are in a position of power. Do the right thing, support BTC, and give guidance to cryptocurrencies that helps the cryptocurrency space flourish (just as the government did when the Internet was created). Sincerely, Bryce Watts