Subnostr

They can do the same thing to BTC, driving the price down by shorting more futures contracts than there is BTC. If they had to buy BTC to settle those trades, it would be different, but paper will be available and used. I've seen data that Deutsche Bank alone is carrying 5 times the GDP of Germany in gold short futures. That's twice the GDP of the EU. If the futures were settled in physical gold, the price would go straight up to who knows where. But it won't be. It's a FED/WEF/IMF/Rothschild/Davos game. BTC ETFs are not a healthy investment for free market capitalists.

B.O.P 2y ago

I disagree

These applications by Blackrock/fidelity are Trusts not actual ETFs…they are going through iShare. They will buy bitcoin in bulk (as they have been for the last 1+yr and eventually sell/buy more depending on demand of their shares.

At the end of the day, more institutional buying, less liquid supply on the market for people to buy. Number goes up.

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Discussion

CTarian 2y ago

I hope you're right, but I have my doubts. Guess we'll see.

B.O.P 2y ago

Healthy skepticism is good! This also solidifies in people’s eyes that the govt isn’t going to make Bitcoin illegal if these massive power houses of industry are behind it

B.O.P 2y ago

Which can drive demand. When supply is the same and demand raises, that’s NGU

CTarian 2y ago

Innovation would drive demand if supply is the same.. Make that product better, or, a competitor could come along with that better mousetrap.