My guess: The Bitcoin ETFs were finally rushed into existence because Wall Street now fully believes in the 4 year cycle and wasn’t going to be on the sidelines for this one.
The last and final cycle will be the next one, when not owning any Bitcoin is portfolio suicide.
The cycles will continue until fiat dies
So I doubt this will be the last one, although we’re getting close and it would be great if it was
I do believe there is a point on this view, for sure they want it be out before what they know we think might be the start of the four year cycle. They are going to profit from fees and volumes of bitcoin market, not from BTC going up itself. BlackRock as company will not be exposed on it, probably suits that work there already have they wallet full.
For sure they didn’t want to miss out this time.
Given this is the first time we will see such a massive inflow of institutional capital over time, there are many possible outcomes, only time will tell.
Regarding cycles, I think they will always exist, but the regular inflow of capital might flatten out some of the volatility and make it react more like a traditional ETF just with higher returns.
Just a thought
On a long enough time horizon I think yes that’s absolutely correct
Just crazy to crunch numbers and realize the theoretical demand for Bitcoin day 1 outstrips the on-exchange supply by 4-5x
