Better Markets CEO Warns: BTC Stockpiling Bill Could Artificially Inflate Price
CryptoNewsTerminal Staff06 Aug, 2024
Better Markets CEO Warns: BTC Stockpiling Bill Could Artificially Inflate Price
Dennis Kelleher, CEO of Better Markets, a financial markets nonprofit, has warned that a bill proposing to stockpile Bitcoin (BTC) could "artificially inflate" the token's price. He emphasized that Bitcoin lacks a "legitimate social purpose" and that its primary use outside of illicit activities is "gambling and speculation." Better Markets has consistently opposed the approval of physical Bitcoin and Ether ETFs, filing letters with the U.S. Securities and Exchange Commission (SEC) to express their concerns.
