ProBit Global has rolled out another ProBit Exclusive Bitcoin (BTC) sale for 2022 to coincide with the anniversary of the U.S. ban on gold ownership. As BTC has been stumbling a bit over the past week, this marks a prime opportunity to buy low at just under $20,000 as of press time.
The 50% discount applies to BTC’s market price on Tuesday, April 12 at 02:00 UTC with the event now open for all PROB holders.
Anniversary of U.S. Gold Ban
On April 5, 1933, the U.S. government made it illegal for its citizens to own gold through a decree that forced many Americans to sell their gold at the current market rates.
Shortly after Executive Order 6102 forbade ownership of quantities of gold coins, bullion, and gold certificates, the price of gold was subsequently increased according to the Gold Reserve Act from which the government generated a significant profit.
19M BTC Mined
The stark reminder was further reinforced as the supply of Bitcoin, often likened to digital gold and capped at 21M, continues to dwindle.
The 19th millionth BTC was mined earlier this month,. leaving the top cryptocurrency with about two million left to be minted over the next 118 years at the current pace. As with gold, BTC mining difficulty has increased drastically in its 13 years of existence following adjustments to maintain its 10 minute block time.
The shrinking supply is symbolic as it tightens the flow of total BTC in circulation, thus creating scarcity. Yet, as the largest cryptocurrency by market cap and powering a payment network operating outside the traditional payments system, BTC continues to offer financial freedom while remaining outside the purview of government control.
A Positive Outlook
BTC's price hit $48,000 last month but retraced shortly after. Whether as a store of value or a medium of exchange, the difficulty miners face in creating new blocks will only serve to strengthen and improve the resiliency of the Bitcoin network.
Bloomberg Intelligence’s latest 2022 Crypto Outlook finds that regulatory clarity and approval will accelerate the floating of a spot Bitcoin ETF by the end of 2023. If and when that happens, their analysis of the key trends driving the global crypto sector suggests that billions in assets would be added to crypto funds.
The SEC’s recent approval of the Teucrium Bitcoin Futures ETF will see BCFU trading on the NYSE Arca, a move that may have positive implications for the eventual launch of a spot ETF due to being filed under the same regulation governing spot ETF i.e., the Securities Act of 1933.
With the dwindling BTC supply coupled with the mining difficulty and a growing sense of interest in the crypto ecosystem, some experts maintain that BTC is on its way to passing the $100,000 mark in 2022.
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