1. ETFs won't work like you all think
2. Pumps AND dumps will be more extreme
3. Wall Street bros don't look at an overbought asset and decide to buy it
4. They can call up the prime broker on day 1 and borrow 10k shares to short
I've been saying all this shit for the last 6 months and nobody wanted to hear it 🤷
If they want to short the most scarce asset on earth, be my guest.
And so we ride…
I think it's really funny that people can look at the cash create flow charts for the ETF and think there isn't massive short selling involved to make it all possible.
the bigger fact i missed was that GBTC with 600k bitcoin converted to an ETF to and thats where the selling cames from. borrowing a share and sell it is just one buy and one sell, only volume. but the borrowed share had to be bought first, right?
Grayscale holders are probably the biggest sellers, you're right about that. But any of these ETFs can be shorted. If the issuer seeds the fund with $100 million, then there is already $100 million worth of shares in existence.
Monero will be a much more stable currency in the coming years. It will benefit from BTCs appreciation as the USD is dying. But its fluctuations will be much less than BTC's.
