New Betting Market for Bitcoin Spot ETF
NitroBetting.eu, a well-known Bitcoin-exclusive sportsbook, has recently launched a groundbreaking prediction market for Bitcoin Spot ETFs. This unique market focuses on the potential approval date of the SEC's Spot ETF and allows participants to speculate on which ETF sponsor will be the first to receive approval. The published odds provide valuable insights into the market's expectations.
Prediction on SEC Approval Date
According to the odds published by Nitrobetting.eu, there is a high likelihood that the SEC will approve a Spot BTC ETF by 1/10/2024, with odds sitting at -1667 for approval and +650 against. This indicates that the market is optimistic about the approval of a Bitcoin Spot ETF by the given date.
ETF Sponsors and Approval Scenarios
At the time of writing, the most favored scenario is simultaneous approval for multiple applicants, with odds at -250. Among the potential Spot ETF sponsors, Blackrock is leading the pack as the most favored for standalone approval, with odds at +120. On the other hand, Wisdomtree and Invesco are considered the least favored sponsors, with odds of +2900 each.
Potential Impact on the Bitcoin Market
The anticipation of Spot ETF approval has had a positive impact on the bitcoin market, with prices currently trading around $42,000. However, it remains to be seen whether this optimism is justified. The introduction of the Spot ETF prediction market by Nitrobetting.eu aims to provide investors with greater clarity and insights into the potential impact of SEC approval.
A Milestone for Bitcoin Integration
In a statement provided to Bitcoin Magazine, Nitrobetting.eu expressed their excitement about offering the first-ever betting lines for the Spot ETF approval event. They see this as an opportunity for players to join in and celebrate Bitcoin's integration into the mainstream financial landscape. With over 10+ years of experience in Bitcoin gaming, Nitrobetting.eu is proud to be at the forefront of this financial evolution.
Explore the Betting Lines
Interested participants can visit the Nitrobetting website to view the available Bitcoin betting lines. In addition to the Spot ETF wagers, there are also predictions related to the 2024 halving price, Bitcoin dominance, and Bitcoin's status as legal tender. Nitrobetting is continuously expanding its offerings to cater to the growing interest in Bitcoin and cryptocurrency-related events.
Disclaimer: Nitrobetting is a proud sponsor of Bitcoin Magazine's "The Bitcoin Halving Challenge," a contest where participants can guess the price of bitcoin at the 2024 halving for a chance to win a share of 1 BTC in prizes.
Frequently Asked Questions
Should You Invest in Gold for Retirement?
How much money you have saved, and whether or not gold was an option when you first started saving will determine the answer. If you are unsure which option to choose, consider investing in both options.
Gold offers potential returns and is therefore a safe investment. It's a great investment for retirees.
Gold is more volatile than most other investments. Therefore, its value is subject to change over time.
This doesn't mean that you should not invest in gold. You should just factor the fluctuations into any overall portfolio.
Another benefit to gold? It's a tangible asset. Unlike stocks and bonds, gold is easier to store. It's also portable.
You can always access gold as long your place it safe. You don't have to pay storage fees for physical gold.
Investing in gold can help protect against inflation. You can hedge against rising costs by investing in gold, which tends to rise alongside other commodities.
A portion of your savings can be invested in something that doesn't go down in value. Gold usually rises when the stock market falls.
You can also sell gold anytime you like by investing in it. Just like stocks, you can liquidate your position whenever you need cash. You don't even have to wait until you retire.
If you do decide to invest in gold, make sure to diversify your holdings. Do not put all your eggs in one basket.
Don't purchase too much at once. Start by purchasing a few ounces. Then add more as needed.
Keep in mind that the goal is not to quickly become wealthy. Instead, the goal here is to build enough wealth to not need to rely upon Social Security benefits.
Gold may not be the most attractive investment, but it could be a great complement to any retirement strategy.
Can the government steal your gold?
Your gold is yours and the government cannot take it. It's yours, and you earned it by working hard. It is yours. This rule could be broken by exceptions. You can lose your gold if you have been convicted for fraud against the federal governments. If you owe taxes, your precious metals could be taken away. However, even though your taxes have not been paid, you can still keep your precious metals, even though they are considered the property of United States Government.
What precious metals can you invest in for retirement?
These precious metals are among the most attractive investments. They're both easy to buy and sell and have been around forever. Consider adding them to the list if you're looking to diversify and expand your portfolio.
Gold: The oldest form of currency known to man is gold. It's stable and safe. Because of this, it's considered a good way to preserve wealth during times of uncertainty.
Silver: Silver has been a favorite among investors for years. It's a great option for those who want stability. Silver tends instead to go up than down, which is unlike gold.
Platinum: A new form of precious metal, platinum is growing in popularity. It's durable and resists corrosion, just like gold and silver. However, it's much more expensive than either of its counterparts.
Rhodium. Rhodium is used as a catalyst. It's also used in jewelry making. It is also quite affordable compared with other types of precious metals.
Palladium: Palladium has a similarity to platinum but is more rare. It's also less expensive. Investors looking to add precious and rare metals to their portfolios love it for these reasons.
How Much of Your IRA Should Be Made Up Of Precious Metals
The most important thing you should know when investing in precious metals is that they are not just for wealthy people. You don't need to be rich to make an investment in precious metals. There are many methods to make money off of silver and gold investments.
You may consider buying physical coins such as bullion bars or rounds. You could also buy shares in companies that produce precious metals. Another option is to make use of the IRA rollover programs offered by your retirement plan provider.
No matter what your preference, precious metals will still be of benefit to you. They offer the potential for long-term, sustainable growth even though they aren’t stocks.
And, unlike traditional investments, their prices tend to rise over time. If you decide to sell your investment, you will likely make more than with traditional investments.
Statistics
- The price of gold jumped 131 percent from late 2007 to September 2011, when it hit a high of $1,921 an ounce, according to the World Gold Council. (aarp.org)
- Instead, the economy improved, stocks rebounded, and gold plunged, losing 28 percent of its value in 2013. (aarp.org)
- Indeed, several financial advisers interviewed for this article suggest you invest 5 to 15 percent of your portfolio in gold, just in case. (aarp.org)
- If you take distributions before hitting 59.5, you'll owe a 10% penalty on the amount withdrawn. (lendedu.com)
- Gold is considered a collectible, and profits from a sale are taxed at a maximum rate of 28 percent. (aarp.org)
External Links
irs.gov
investopedia.com
cftc.gov
bbb.org
How To
How to Keep Physical Gold in an IRA
The best way to invest in Gold is by purchasing shares of companies that produce it. However, there are risks associated with this strategy. It isn't always possible for these companies to survive. Even if the company survives, they still face the risk of losing their investment due to fluctuations in gold's price.
The alternative is to buy physical gold. You can either open an account with a bank, online bullion dealer, or buy gold directly from a seller you trust. This option has many advantages, including the ease of access (you don’t have to deal with stock markets) and the ability of making purchases at low prices. It's also easier to see how much gold you've got stored. You'll get a receipt showing exactly what you paid, so you'll know if any taxes were missed. You have less risk of theft when investing in stocks.
However, there are disadvantages. You won't get the bank's interest rates or investment money. You can't diversify your holdings, and you are stuck with the items you have bought. The taxman might also ask you questions about where your gold is located.
If you'd like to learn more about buying gold in an IRA, visit the website of BullionVault.com today!
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By: Bitcoin Magazine
Title: First-Ever Bitcoin Spot ETF Prediction Market, Betting Odds Published By Nitrobetting.eu
Sourced From: bitcoinmagazine.com/business/bitcoin-spot-etf-prediction-market-odds-on-nitrobetting
Published Date: Tue, 19 Dec 2023 14:00:00 GMT
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