Crypto heads gift 11k Twitter followers to ‘dissenting’ SEC Commissioner Hester Peirce
United States SEC (Securities and Exchange Commission) Commissioner Hester Peirce’s dissent from the commission’s stand against the listing of Bitcoin ETF (exchange-traded fund) not only witnessed the rally of the first generation cryptocurrency but also her Twitter followers.
Wondering how? Hester Peirce expressed her support to the listing of Bitcoin ETF on the exchange while speaking to Bloomberg Radio. A Redditor who goes by the name lambox wrote on subreddit CryptoCurrency that Hester Peirce supported ETF approval but has only 1,700 followers on Twitter. He requested on the group to show some love from the crypto community. And the rally took off at jet speed and only slowed down after it reached 13,100 followers.
Apparently, bitcoin is not ripe enough, respectable enough, or regulated enough to be worthy of our markets. I dissent: https://t.co/gH5zXaKtmj
— Hester Peirce (@HesterPeirce) July 26, 2018
Bitcoin ETF SEC rejection recap
U.S. Securities and Exchange Commission (SEC) announced that it has rejected the proposal of Bitcoin ETF that was submitted by the Winklevoss Twins, post announcement. The price of Bitcoin dipped below the $8,000 mark, CCN reported.
The application was reportedly reviewed by the SEC for the second time after Gemini co-founders Cameron and Tyler Winklevoss appealed. In fact, for the second review, SEC started a round of public comment. Previously, on March 10, 2017, the initial application was rejected.
Bitcoin rallies to $8241 after SEC chief Hester Peirce supports cryptocurrency ETF
Bitcoin headed north again after Commissioner Hester Peirce revealed that she was backing the cryptocurrency ETFs in an interview with Bloomberg Radio. Now the coin is trading at $8241. Also, cryptoanalysts predict that the price will spike at a steady pace.
Barry Pershkow, a partner at Chapman & Cutler LLP and former SEC employee stated,
“This is a big shot across the bow for those seeking to launch digital currency exchange-traded products, You don’t write 92 pages and undertake serious economic analysis unless you’re trying to make a really important statement.”
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