Hester Peirce Is A Real One
The SEC Commissioner Believes In Bitcoin's Power And Potential
“Technologies that allow you to do things on chain, but also allow you to preserve your privacy are really important.” -Hester Peirce on crypto mixers
This past Monday, SEC Commissioner Hester Peirce took part in a fireside chat with NYDIG founder Ross Stevens at New York’s PubKey.
Peirce was remarkably candid in the conversation as she discussed Bitcoin as freedom tech.
“I sometimes think about what things would have been like if someone like Harriet Tubman had Bitcoin,” said the commissioner at the event.
She also touched on how it’s important to stay vigilant so that the U.S. government doesn’t attempt to confiscate Americans’ bitcoin, like the way it did with gold in the wake of Executive Order 6102 in 1933.
And she touched on how it’s important that U.S. regulators continue to treat code as speech (the legal precedent for which was established in 1996 in the Bernstein vs. Department of Justice case), so that open-source developers can continue doing their work without asking permission from regulators.
For more on what Peirce said at the event, see the article I published on it this week:
Last point on this topic: I got the opportunity to ask Commissioner Peirce if she’d consider in-kind redemptions for the spot bitcoin ETFs (the ability to redeem shares of a spot bitcoin ETF for actual bitcoin) for retail investors and, while at first she said it was “highly unlikely,” she ended up saying she’d think about it — and she seemed sincere when she said it.
I can’t describe how satisfying it felt to be listened to by a regulator, especially after the tyrannical reign of former SEC Chair Gary Gensler.
Support The Blockchain Regulatory Certainty Act (BRCA)
If you’re a U.S. citizen and protecting your right to use a noncustodial Bitcoin/crypto wallet is important to you, then please support the BRCA.
Go to SaveOurWallets.org to learn more about how to do so, please check out the following piece I wrote on the bill to learn more about why it is important:
ADVERTISEMENT
Speaking on noncustodial wallets, the Trezor Safe 3 is a fantastic one!
Click on the image below to purchase one and take control of your bitcoin today.
South Korea Elects A Pro-Bitcoin President
South Korea elected a pro-Bitcoin/pro-crypto president this week.
The left-leaning politician would like to lift the ban on spot bitcoin ETFs in the country and would also like to include bitcoin in the national pension fund.
Markets
Bitcoin’s price pulled back a bit this week, but it’s on the rise heading into this new week.
If it flips $106k from resistance to support, I wouldn’t be surprised to see a new all-time high this week.
Do I think you’re getting a super duper deal on bitcoin buying at these levels? No, I don’t.
You were getting a pretty good deal on bitcoin two months ago when it cost $76k. You’d be getting a super duper deal if its price dropped closer to $50k.
That’s just me thinking out loud, though, as nothing I write in this newsletter is financial advice. Your investment decisions are yours and yours alone.
Thanks for reading everyone, and here’s to an awesome week ahead!
Best,
Frank
Frank
Nostr: npub1dnzzyhmewrzkh862z7z2shwmhh5htx0rvkagepj2fkgst9ptwg3qj4x52h
