beehiiv-import

⚡Satoshi Nakamoto's Comeback?🎒

Croxroad

08 Jan 2024 — 3 min read

☕️ GM Dear Plebs!

Here is Crox Road, your daily dose of orange pill that will turn you into a Bitcoin Maxi.

The menu for today:

🔙 Bitcoin's Founder Resurfaces

Satoshi Nakamoto, the mysterious creator of Bitcoin? Well, it looks like they might be making a comeback! Just a few days after the crypto community celebrated the 15th anniversary of Satoshi mining the first-ever Bitcoin block, a whopping 27 Bitcoins, worth over a million bucks, were transferred to Satoshi's wallet.

Here's the scoop: On January 6, someone bought 27 Bitcoins from Binance and sent them straight to Satoshi Nakamoto's wallet. The news spread like wildfire in the crypto world, and now everyone's buzzing about whether Satoshi is really back in action or if it's just a savvy move to draw attention to Bitcoin.

Adding to the excitement, this transaction happened right when various companies were updating their filings for spot Bitcoin ETFs, signalling a potential approval by the U.S. SEC next week. Big names like BlackRock, Grayscale, Fidelity, and others are all in the running. Of course, these filings don't guarantee approval, but they do show progress in the process. The final documents are due on Monday, and the SEC is expected to make a decision on January 11. So, it's not just Satoshi making waves - there's a lot happening in the world of Bitcoin right now!

🦸 Supporting the Foundation

VanEck, the company looking to launch a Bitcoin exchange-traded fund (ETF), has some big plans if their fund gets the green light. They've decided to give back by donating 5% of the profits to Bitcoin developers, specifically a group called Brink.

Now, VanEck's waiting for approval from the U.S. Securities and Exchange Commission (SEC) to list their spot bitcoin ETF. There's a bunch of these applications in the mix, and everyone's waiting for the SEC to make a decision, which should happen pretty soon. If these spot bitcoin ETFs get the thumbs up, it's expected to bring a ton of traditional financial investment into the cryptocurrency world.

But, you know how there can be mixed feelings about big financial players entering the crypto space? Well, VanEck wants to show they're not just here for a quick ride. They posted on X saying, 'We’re not Bitcoin tourists at VanEck. We’re in it for the long haul.' They're backing up those words by supporting Brink, a group that's all about decentralisation and innovation in the Bitcoin world.

This isn't the first time VanEck's done something like this. Last year, when they launched an ether futures ETF, they pledged to give 10% of the profits to Ethereum developers. So, it seems like they're making a habit of giving back to the crypto community they're becoming a part of.

🥅 Goals of Bitcoin Futures ETFs

Alright, so, imagine you want to invest in Bitcoin, right? But buying actual Bitcoins can be a bit of a hassle and may require some extra steps like security measures and having a bunch of funds ready. Now, enter Bitcoin futures ETFs. These are like a more convenient way for folks to invest in Bitcoin without dealing with all the direct buying stuff. It's like a shortcut. You don't have to worry about extra security steps or having loads of cash on hand. It's designed to make investing in Bitcoin more accessible and familiar for a lot of people. So, it's like Bitcoin investment made easier and simpler for the average investor.