This is a long way to say stay humble and stack sats
⚡️💬 NEW - BlackRock CEO says, “There are a number of sovereign funds that are buying” their Bitcoin ETF incrementally.
“You own it over years. This is not a trade.”
https://blossom.primal.net/896d377f731799007ef79590f641adbca80f77a30b1d3a57d7e5b8a9f3ba991d.mp4
Discussion
Well, it’s one way, but if I were a foreign nation, maybe trusting US-owned Blackrock to hold my Bitcoin is a really piss-poor, retarded way? 🤔
I cannot really understand why sovereign wealth fund would not simply buy the real keys. Do you want me to believe they're not able to have the proper infrastructure and organization in place to secure the keys?
Corruption. Could you imagine?
Not really, what does the UAE fund get by buying ETFs instead of actual UTXOs?
No custody risk.
It’s very early in sovereign/institutional adoption. I’d rather they start here than not at all. Worst case scenario is a big sov/institution loses a sizeable amount of coins and scares off everyone else.
Try explaining cold storage to your Grandpa. This is changing the world one boomer at a time. The fact that long is the idea is something we need to explain shows how short time preference people really are.
These people are genious! Where is their boots? I need to kiss them!
Ill bet its a really good deal though!