Editor’s Note: Today’s Wealthy Retirement comes from Andy Snyder, founder of Manward Press, who has an important update on the crypto market.
As long-time readers know, Wealthy Retirement doesn’t cover crypto. It’s not our specialty… but we hear from Wealthy Retirement readers all the time asking if crypto is right for them (and what to buy!). So with that in mind, check out the following from our good friend and crypto expert, Andy Snyder.
– Kyle Wehrle, Assistant Managing Editor
Those few Americans who still dare to use their brains will find it ironic that a nation founded on tax freedom… recently passed legislation that provides funding for 87,000 new IRS employees and agents.
Some of the new agents, we’ve learned, will be armed.
We’re told Joe Sixpack doesn’t have to worry. The IRS will go after only the elites… those scumbags who made more than they deserve and actually want to keep it.
I’ll remind readers now that there are a little more than 600 billionaires in the United States.
That means the IRS is going to be looking for something to shake up… and somebody to shake down.
We’ve seen enhanced scrutiny recently in the crypto world.
It’s no surprise, though. I’ve expected it for a while.
The Securities and Exchange Commission (SEC) has cracked down on crypto projects that it deems securities. It’s gone after Coinbase and Kraken – and others too.
It says many of the coins they list on their exchanges are securities… and must be registered as such.
This idea is not new. But its enforcement is.
In just the past couple of months, several tokens have found themselves in the SEC’s crosshairs.
You’d think a free-market-loving, don’t-tread-on-me fella like me wouldn’t be so keen on the news.
Let the market be the market, right?
But no, I’ve been on top of this for months. I saw it coming. And I know where it’s headed.
Better yet… I know just how profitable it could all become.
Rules Are Rules
To my mind, the SEC has just kick-started the next BIG thing in the investing world.
For crypto traders who truly believe in the technology and the ideas behind it (and aren’t in it just for the gambler’s high)… this is absolutely huge.
It combines the technology and promise of crypto with the real-world need for a market that offers liquidity and access to capital.
What the SEC is kick-starting (if entirely by accident) is a market that makes good on the promise of crypto… and finally brings it out of the shadows and the legal margins.
Did you know, for example, that companies are already using new blockchain technology to raise capital in the open market?
Did you know that with the same technology, it’s now possible to buy a fraction of a valuable asset – like a real estate property or even a single business line?
And did you know… it all has the blessing of our beloved keepers in Washington?
It will not only eliminate much of the regulatory risk that has clouded the space for the last decade but also attract the sort of big money that can propel an industry from nascent to dominant.
With all that’s happening, it’s no surprise that BlackRock (which until recently was anti-crypto) just teamed up with Coinbase. And it’s no surprise that Intercontinental Exchange, the company behind the NYSE, also bought a stake in the technology.
Very few folks are talking about this. The money media has absolutely let its followers down.
The crypto space is a virtual ghost town these days.
It’s a crazy idea, especially when we consider that some of the biggest names on Wall Street are quietly moving in… and that many tokens have gone up 50%, 60% or even 100% over the last 45 days.
This new market has only just passed the $1 billion mark.
It’s still quite tiny.
But British bank HSBC quietly estimates it could be worth as much as $24 trillion in just five years.
That would be 2.4 million percent growth.
And virtually none of it would be possible without the SEC putting its foot down like it just did.
This is it… the start of something new.
Perhaps the IRS believes what I believe – that a lot of folks could get very rich from this trend.
There are just 600 billionaires now.
But with 2.4 million percent growth on the table… that could change quickly.
I just sat down for one of my biggest interviews yet. I describe all that’s happening – plus give away one of my favorite ways to play it all – right here in this brand-new interview.
This is big.
And it’s moving fast.
Watch the whole interview here.