It’s a beautiful irony that some members of the American establishment (Blackrock, Fidelity, etc.) are currently fighting other members of that same establishment (SEC, Fed and other regulators) over the approval of a Bitcoin ETF.

Why? The SEC is trying to protect the financial and political establishment from the risks of an increasingly powerful and incorruptible Bitcoin. At the same time, these financial institutions, with all their low time preference Fiat thinking urgently want to issue a Bitcoin ETF to sell it to their customers.

What they’re obviously not thinking about is that the Bitcoin ETF will be the Trojan horse and entry level drug for their customers to eventually break the back of the financial system they so desperately need to maintain their power.

I’m sure there will be a lot of twists and turns in this story, but it will be delightful to watch.