The ETFs are bad for Bitcoin.
The ETFs are bad for Bitcoin.
The ETFs are bad for Bitcoin.
The ETFs are bad for Bitcoin.
The ETFs are bad for Bitcoin.
The ETFs are bad for Bitcoin.
The ETFs are bad for Bitcoin.
The ETFs are bad for Bitcoin.
Few 😮💨
Discussion
What do you feel is going to happen? We can’t stop our friends or enemies from using bitcoin.
That Bitcoin will be captured by the elites. Self custody becomes a thing of the past because the ETFs will gobble up the Bitcoin for sale and push prices higher to shake out the non ideological holders and then push their allies in congress to outlaw self custody Bitcoin.
We get stuck with a defanged, watered down Bitcoin and paper bitcoin for the suckers that buy the ETF.
This is what I’m afraid of.
I hear you. If that’s the case then bitcoin was never meant to be as ETF adoption seems to have been discussed in bitcoin’s early days and it was always inevitable. Whether young or old, we have to do what we can to teach the values of self custody.
I’m glad that 60-70% of the supply is being held by hodlr’s who will not be selling to ETF’s anytime soon given they haven’t moved their coins in a year or so. I’m also glad that #Bitcoin adoption outside of the US bubble will continue to increase as people living under extreme inflationary currencies will see bitcoins value proposition and will most likely self custody. What’s going on in the US can’t be ignored but the world is just so much bigger than the US and more countries like El Salvador will eventually pop up creating economies that flourish under hard money. I’m sure my optimism is sickening but I’m hopeful. Especially after seeing videos like this: