That is a silly take. Institutional adoption gives more legitimacy to the asset and drives adoption. Of course there will be “rug events” with the institutions but the events will be higher volume and with more people involved. Those people will learn, as many have before them, and it will usher in more bitcoin self-custodians.

This is great for bitcoin’s long-term success.

I hope they never approve an ETF

Exactly to the point! 🎯💯

What excites me about institutional adoption is that it means we're getting closer to the endgame.

Institutional adoption also makes me nervous, because it's the step right before "then they fight you" becomes most vicious and insidious.

If "institutional adoption" doesn't excite you, you don't understand #hyperbitcoinisation

Maybe they're just easily excited?

Bitcoin becomes more useful at storing & moving value, the more it's monetised. The super cycle is still coming. It is inevitable.

I would prefer that individuals adopted bitcoin before the institutions. Many could do this now & would benefit from doing so.

I suspect that the cheering of this institutional interest is part of a last ditch effort to get individuals to see the opportunity. I'm not going to be too devastated if bitcoin does 1000x in value over the next cycle.

Let the games begin.

Bitcoin doesn't care.