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Crypto Prices Pump As Grayscale ETF Won’t Be Appealed By SEC, Is This Bitcoin Alternative The Best Crypto To Buy Now?

Sam Cooling
Last updated: | 5 min read
Source / Bitcoin Minetrix

Monday, October 16th, 2023 – After the US Securities and Exchange Commission (SEC) declined to request an appeals court reconsideration of the Grayscale Bitcoin ETF, the Bitcoin price has exploded – triggering a scramble for Bitcoin alternatives such as Bitcoin Minetrix ($BTCMTX).

Allured by the prospect of this new tokenized Bitcoin cloud mining platform, which enables retail investors to mine BTC across decentralized mining infrastructure, the Bitcoin Minetrix presale has now entered its second stage with $1,583,700 raised.

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Bitcoin Price Surge: Investors Flock to BITO ETF as SEC Backs Down Over Grayscale Bitcoin Spot ETF Ruling 

The Bitcoin price has been invigorated by the SEC’s latest move, and this comes amid revelations that the US Government holds the biggest BTC reserve of any country

The huge shift in fundamental headwinds has seen Bitcoin’s price push up for three consecutive days, with BTC currently trading at a market price of $28,200.

The top cryptocurrency is printing a dramatic day on the markets, with a fake news story published by CoinTelegraph sending its price surging above the 20DMA – a moving average which saw a double-rejection of upside movements by Bitcoin just over a week ago.

TradingView / BTC USDT

The shift to upside momentum has been triggered by market excitement at the potential demand-side pressure an imminent Bitcoin spot ETF could induce.

And this has had knock-on implications for futures market ETFs, such as the ProShares Bitcoin Strategy ETF (BITO) – which has surged an impressive 5.29%.

But while TradFi markets await the arrival of the highly anticipated ETF, investors are rushing to identify alternative investments at lower price points.

Why Bitcoin Minetrix is Important for Bitcoin Network Security

No longer the mainstay of basement ASICs, Bitcoin mining is now a multi-billion dollar industry, but with the success of Bitcoin mining centers comes the challenge of increased centralization.

Blockchain.com / Bitcoin Hashrate

Indeed, with just two mining pools (Foundry USA and Antpool) representing 57.5% of the Bitcoin network hashrate, mining centralization is desperately in need of modern solutions to ensure long-term network security.

This is where the magic of Bitcoin Minetrix comes into play, with Bitcoin cloud mining offering the opportunity for everyday investors to claim their slice of the pie – while bolstering Bitcoin’s network security.

All interested parties have to do is buy $BTCMTX tokens in presale and stake them to earn cloud mining credits, with Bitcoin Minetrix’s automated system handling the heavy work.

In effect, this means no more expensive barriers to entry such as costly hardware requirements, or complicated technical understandings – simply buy, stake, and earn to unlock the benefits of Bitcoin mining rewards.

Unlock Market-Beating 733% APY Staking Returns With $BTCMTX 

With a total supply of 4 billion tokens, Bitcoin Minetrix opens the door to smaller investors, offering the opportunity to gain ‘Wholecoiner’ status at a fraction of the cost.

But the benefits don’t stop there, with 7.5% of the $BTCMTX supply designated towards staking.

This creates a dual-earn function, which enables holders to first earn $BTCMTX tokens at a jaw-dropping rate of 733% APY – with 158.5 $BTCMTX rewarded for every ETH block produced.

Then in a secondary move, access to passive BTC income following the launch of mining operations and the smooth transition to stake-to-mine earning.

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What’s more? For intrepid holders that back Bitcoin Minetrix in its presale stages there is also the opportunity to participate in a $30,000 Minedrop giveaway (hosted via Gleam).

In Testament to Technology, Bitcoin Minetrix Emerges as Leading Choice for Crypto Influencers 

With such an enticing offer on the table, it comes as no surprise that leading crypto influencers are taking note as Bitcoin Minetrix emerges as a leading choice amongst YouTubers.

Spurred on by the promise of enhanced decentralization of the Bitcoin network, accessibility for the retail investor, and an impressive dual-earning opportunity – swathes of influencers have come out to publicly support the project.

Top YouTube crypto influencer Joe Parys Crypto described Bitcoin Minetrix as a fantastic solution for those seeking exposure to Bitcoin mining.

“Bitcoin cloud mining may be a really cost-effective way to not have to deal with any of the hassles associated with Bitcoin mining today,” stated Parys.

“Running a massive computer and dealing with the [costs of] electricity sounds like an absolute headache to me – it’s something I would massively want to avoid.

“So if you’re looking to gain some exposure to Bitcoin mining this could potentially offer you an avenue”.

While top British crypto influencer Jacob Bury predicted a 10x return on the $BTCMTX token in the next bull run in his latest coverage of this rapidly growing project.

And the hype hasn’t been limited to the Western hemisphere, with leading Arabic influencer Abdessamad Geek providing coverage, alongside prominent Russian influencer MoneyTime.

But Bitcoin Minetrix’s growth in social media mentions doesn’t stop at YouTube, with a number of prominent voices on Crypto X also spotlighting the potential of this fresh-faced Bitcoin project.

Prominent crypto influencer Hamid recently shared alpha on Bitcoin Minetrix with his army of 23,400 followers.

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How to Get Started in Bitcoin Mining? Look No Further Than Bitcoin Minetrix – Diversify Your BTC Exposure Today

With a growing community backing the future of Bitcoin mining, there are already 112.6m $BTCMTX tokens staked – with holders already profiting from the distribution of 158.5 $BTCMTX per ETH block validated.

To join the Bitcoin Minetrix presale is simple, all a user needs to do is connect a crypto wallet loaded with either ETH or USDT (users can also just use a bank card!) and select their chosen amount of $BTCMTX to purchase.

From there it only takes a couple of clicks to stake and begin earning passively!

To ensure you don’t miss any updates, stay tuned by joining the growing community of Bitcoin Minetrix holders on X, Discord and Telegram.

Buy Bitcoin Minetrix today

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.