If the etf banks buy all their bitcoin in bulk...and never move it...then just swap IOUs with each other in their coinbase accts...it means they capture all the value from the buying and selling if the etf and it won't affect actual price a pleb would sell on the open market at all. They are never going to market and gonna buy btc from us. So essentially literally nothing changes except that coinbase has 11 new accounts in their database. Lolz, time to move on 😂
Discussion
I had the same thought. But here's my question. It seems the ETFs are selling bitcoin. Are they buying it ever? Or are they just selling "bitcoin accounts?"
if that's the case they are not really going to affect supply and demand
but i'm pretty sure they will be buying more to satisfy the demand and if so ...
The whole thing is a psy-op.
They're trying to normalize institutional custody so they can rug 1972 style.
Well stated
#BTC #Zap #Nostr