🚨 The ONLY people benefiting from NGU due to ETF buying are those holding #Bitcoin in self-custody. Everyone else is just holding hot air, which is why ETFs are called Bitcoin for Dummies 😂
Discussion
ETF people actually believe that the law prevent ETFs from rehypothicating #bitcoin.
I’ve had actually someone say to me “They wouldnt do that because that would be fraud and Blackrock and JP Morgan aren’t going to commit fraud!”
If they do this, all profit taking people do when bitcoin blasts to 250k USD is a massive loss for blackrock. Why would their risk their business for this?
Rehypothecating the most bullish asset in history? I would not argue they are honest, but I would argue they are not stupid.