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Canada becomes the first country to allow trading in Bitcoins on its stock exchange.

The Canadian authorities on Friday authorised the launch of a Bitcoin fund on the Stock Market, thus giving investors greater access to the cryptocurrency.

The Ontario Securities Commission, which oversees the Toronto Stock Exchange, gave the green light for the launch of an index fund proposed by the Purpose Investments company.

The fund is scheduled to be quoted on the Toronto Stock Exchange from this week, under the acronym of BTCC, an OSC spokesman told French news agency AFP.

This will make it the first bitcoin fund to be traded on a stock exchange.

“This EFT [Exchange Traded Fund] will be the first in the world to invest directly in physically settled Bitcoin, not derivatives, allowing investors easy and efficient access to the emerging class of cryptocurrency without the associated risk of self-custody within a digital wallet,” Purpose Investments stated in a press release.

The Gemini Trust Company will be the sub-custodian of the Bitcoins, while Canada’s CIBC Mellon Global Securities Company will be the administrator of the fund.

Created anonymously and managed by a decentralized network, virtual currency is particularly volatile. None of the major central banks recognize Bitcoin as a full-fledged currency.

At its creation in 2009, Bitcoin was worth next to nothing, but this week its value shot up to over 45,000 dollars, buoyed by a massive investment of 1.5 billion dollars in the world’s first cryptocurrency by Tesla, which also has plans to accept it as a means of payment.

Mark Cuban says Crypto 'Exactly' Like Dot-Com Bubble. Expects Bitcoin to Survive Bubble Burst, Thrive Like Amazon.

Billionaire Shark Tank investor Mark Cuban sees cryptocurrency “exactly” like the dot-com bubble. He says bitcoin and a few other cryptocurrencies are analogous to those dot-com stocks, like Amazon and Ebay, that survived the bubble burst and thrived.

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And now, back to Mark Cuban Likens Crypto to Dot-Com Bubble.

Shark Tank star Mark Cuban compared what he feels is a bubble in bitcoin to the dot-com bubble on Monday after the price of the cryptocurrency took a nosedive. The owner of the National Basketball Association’s (NBA) Dallas Mavericks tweeted:

Watching the cryptos trade, it’s exactly like the internet stock bubble. Exactly. I think BTC, ETH, a few others will be analogous to those that were built during the dot-com era, survived the bubble bursting and thrived, like AMAZON, Ebay, and Priceline. Many won’t.

“Along the way, many fortunes will be made and lost and we find out who has the stomach to hodl and who doesn’t. My advice?! Learn how to hedge,” he elaborated!.

At the time of reviewing, his tweet has garnered hundreds of comments. It has also been retweeted thousands of times and liked even more. Several people on Twitter view Cuban’s comment as bullish for BTC and ETH.

Among the commenters was Tyler Winklevoss, co-founder of Gemini cryptocurrency exchange, who argued that cryptocurrencies are not like stocks.

“Wrong. Cryptos like BTC and ETH are networks, they are definitely not stocks or shares of a company.

They are like owning a piece of the early Internet.

Comparing them to stocks is apples to oranges comparison,” he explained to Cuban. After discussing bitcoin as a store of value, the Shark Tank star reiterated his stance:

I said BTC is like gold, it’s a store of value with no other utility. At least I can eat bananas!.

Gold bug Peter Schiff chimed in, telling Cuban: “Mark, you can’t store what you don’t have.

Gold is a store of value as you are storing gold for future use as a metal.

Jewelers will need gold, computer chip manufactures will need gold, dentists, etc.

But no one actually needs bitcoin now, so no one will need it in the future.”

In a follow-up tweet, Cuban wrote:

As during the dot-com bubble, ‘the experts’ try to justify whatever the pricing of the day is.

Crypto, much like gold!, is supply and demand-driven!.

All the narratives about debasement, fiat, etc are just sales pitches.

The biggest sales pitch is scarcity vs demand!. That’s it!.

The Gemini co-founder disagreed. “The narratives around debasement of fiat are facts.

Have you looked at the Fed’s balance sheet lately?!

What’s the matter with supply and demand?

The value of land!, a Picasso!, or the Dallas Mavericks franchise! are determined by supply and demand too,” he told Cuban!.

Do you agree with Mark Cuban about bitcoin? Let us know in the comments below!.

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