Is it a security? Does it matter?

 

Note: This post was originally published on LinkedIn in July 2024

Is it a security? Does it matter?

I didn’t manage to make it to the Bitcoin conference in Nashville in July, but they did kindly make some of the transcript and recording available.
(A - All links in comments below).

I did tune into Trump’s speech. The man knows how to read the room. At the 26 minute mark he states he will fire Gensler on his first day in office. Predicably, the bitcoin audience applauds. What struck me, was when Trump categorically repeated the claim, the audience spontaneously starts a Trump chant. (B)

The Democrats don’t want to cede the issue. Schumer said during the Crypto4Harris livestream. “My goal is to get something passed out of the Senate and into law by the end of the year, and I believe we can make that happen.” (C)

What supports this argument? Well, it is Form 13F season (D).
Wisconsin Becomes The First State to Buy Bitcoin (BTC), These 3 States May Be Next. (E). “While some entities, such as MicroStrategy (MSTR), have taken the route of investing in bitcoin directly, others, such as the State of Wisconsin, have begun investing indirectly.” (i.e via the ETF). So now we have the US States building their exposure to BTC.

But what about those that want indirect exposure to BTC? Who’s getting exposure to BTC via MicroStrategy (MSTR)? Some interesting names including Norges bank, the Swiss National Bank, The National Pension Service of South Korea and The State Board of Florida Retirement amongst others. (Full register may be behind a paywall – see also F)

So, will the debate rage on in the US. Yes.
Has it moved from if, to when. Yes. And sooner rather than later.