top of page

What Impact Does Fake News About Bitcoin ETFs Have on Cryptocurrency Investors?

Today, if you followed Gary Gensler's Twitter account (I refuse to call it "X"), you would have seen a post stating that "all Bitcoin ETF's have been approved".  This news sent the price of Bitcoin from $46,000 to almost $48,000 immediately.  Unfortunately for some investors, the SEC claimed that Gensler's account was hacked and that the news was false.  This caused an immediate drop back to $45,000. 


Talk about Market Interference...


I didn't have a whole lot of confidence in the ETF approvals other than my belief that Black Rock has a lot more sway over government policy than the most powerful politicians.  Not mention the SEC hostility toward crypto with lawsuits against Coinbase, Binance, Kraken, and even Ripple/XRP to name a few. 


Hans is of the opinion that this was an early release of information, which will later be validated.  I'm not entirely sure about.  Either way, Bitcoin is in for a wild ride in the near future.


Expect an episode of The Bit Bite Podcast to discuss this matter tomorrow evening.  Hopefully the dust will have settled, and we can make more of this mess.



0 views0 comments

Recent Posts

See All


bottom of page