Bitcoin: Transparent Finance

Bitcoin: Transparent Finance

Bitcoin ETF: Setting a New Standard for Transparency in Securitized Assets

27 Jan, 2024
Talal Tabbaa
Talal Tabbaa

In a groundbreaking move, the Bitwise Bitcoin ETF (BITB) has redefined transparency in traditional finance, making it the most transparent securitized asset globally (and it's not even close, because we previously relied on auditors and management saying - walahi we have the money). 🚀

For the first time in the history of traditional finance, anyone, anywhere in the world, can go online and witness, in real-time, the exact quantity of an asset held by a specific company. BITB has become the first U.S. bitcoin ETF to disclose its bitcoin addresses, allowing you to explore the holdings yourself:

Click the link and see for yourself - every transaction, the most recent one at the time of writing being 11 hours ago, is there, available for everyone to review. This unparalleled level of transparency is a testament to the power of Bitcoin, where transparency isn't merely a buzzword but an undeniable reality. With this level of transparency, it will be very difficult, if not impossible for institutions to rehypothecate your assets, or invest them in risky products like mortgage-backed securities, etc.

This move reinforces Bitcoin's trustless nature, replacing the reliance on opaque quarterly filings and being forced to trust auditors and CFOs to be truthful. With Bitcoin, audit and verification are real-time, occurring every 10 minutes, ensuring the latest data and insights. Ultimately the question is who do you trust more? People or math?

Envision a world where financial transparency isn't an afterthought but an ongoing, verifiable process. Bitcoin's decentralization and transparency empower individuals to take control and verify, drastically reducing reliance on intermediaries. Picture if banks or central banks opened up their accounts, displaying real-time proof of reserves. That is simply not possible because of fractional reserve banking. As Henry Ford once said, “It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.” As we applaud Bitwise's significant stride, let's recognize that transparency isn't just a virtue; it's the bedrock of trust in finance. Bitcoin isn't merely joining the game; it's here to revolutionize it.tionize it.

Share this article:
Founders' Blog

Invest in the future of finance today with CoinMENA

Related Articles