💩 Sh*t Sandwich

This Week’s Big Stories

• Turning water into electricity

• The SEC fiasco

• What even is an ETF?

• The UK sh*t sandwich

 🇲🇼 Turning water into electricity

An article by UK British journalist, Ian Birrell investigates Bitcoin’s positive impact on a community in Malawi that previously were without electricity.

“Bitcoin certainly seems to offer something positive in societies scarred by autocracy, colonialism, military coups and woeful governance — as seen with those computers in a concrete shed in rural Malawi turning water into streams of cash to fund electricity.”

🤡 The SEC fiasco

One day before the Bitcoin ETF approval, the SEC’s X (formally Twitter) account was compromised, posting that the ETF had been approved which turned out to be fake news.

This was blamed on a hack but X later denied this and shared that the SEC didn’t have 2 factor authentication on their account. “We can also confirm that the account did not have two-factor authentication enabled at the time the account was compromised.”

Rather comical after the countless times they have advised people to turn this feature on.

🇺🇸 What even is an ETF?

It finally happened. A Spot Bitcoin ETF was approved in the US, which is a huge step for Bitcoin adoption. They closed the first day of trading with a record-breaking total volume of over $4.6 Billion.

Want to go deeper? We’ve made a one-page TLDR about the Bitcoin ETF. This includes ARK Invest’s scenario for a $3 million Bitcoin. If you like it, please pass it along to a friend.

💩 Sh*t sandwich

America is moving forward, as they approve Bitcoin ETFs but the UK seems to be lagging or moving backwards for that matter.

The UK is implementing measures that are inadvertently causing an exodus of crypto-related businesses. The UK has ambitions to become a ‘Crypto Hub’. This may sound nice from the outside but dig deeper and well, you can guess by the title.

This was coupled with the Bank of England's Governor saying Bitcoin is not taking off as a financial service because "using Bitcoin as a payment method is pretty inefficient.”

🔥 What else have you missed?

1. The first rental contract in Bitcoins was signed in Rosario, Argentina (originally in Spanish).

2. Bitwise will donate 10% of the profits of the Bitwise Bitcoin ETF to Bitcoin open-source development.

3. As spot bitcoin ETF volumes soar, Vanguard is blocking their customers from purchasing the Bitcoin ETF.

🍾 Friday Fun

This week’s theme is: ‘Board Games ♟️’ - Play here

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Until next week ✌️,

The BC Team