ICO Legal Probes Boost Bitcoin – SEC Subpoenas and Probes Will Drive Bitcoin
As reported in The Wall Street Journal, the SEC has fired off dozens of subpoenas and requests for information from a myriad of tech companies in various stages of ICO offerings. As Bitcoin holds its ground at $11,000 on a slow march back to $12,000 and beyond it can’t be helped but assert that ICO legal probes boost Bitcoin. That, as much as the fact the US stock markets are now down for the year after a record bull run, makes Bitcoin a more viable investment alternative than ever before.
With the Securities and Exchange Commission launching all of these ICO probes, a black cloud has settled over the Initial Coin Offering world and with good reason. With hundreds of millions of dollars of investors’ funds gone missing the world over, the existing uncertainty of prior ICO failures and exit scams every sane investor will be running to the comparatively stable world of Bitcoin. Yes indeed friends and neighbors, ICO legal probes boost Bitcoin ways big and small.
I predict that many ICOs in the making or already on the market will be crushed by the SEC probe. That’s because the legal expenses of engaging the government with subpoena responses, answers to information requests, etc. can decimate the operating budget of even large, established companies.
ICOs now under withering SEC scrutiny have one of two possible fates; they’ll be obliterated by the financial and legal obligations an SEC probe entails OR emerge as a shining light in the ICO world as passed scrutiny of the SEC and could raise record amounts of funds. Investors face enough uncertainty on any given day which is why I hold to the view that ICO Legal Probes Boost Bitcoin in ways presently seen and unseen. While Bitcoin volume is currently down, Bitcoin prices are steadily going up. Bitcoin has always been and will always be the big daddy of the cryptocoin world. Anyone ignoring this fact does so as their own financial peril.