People really underestimate what this means. Its wild
it has been an absolute pleasure front running blackrock with you all - stay humble and stack sats 🫡
Discussion
There’s nothing revolutionary about IOUs
I know right? It means a whole lot of people are going to think they own Bitcoin but actually have fuck all! So many people and companies might get rugged really hard.
ETF pushers really underestimate what this means for sure...
It’s okay, everyone has to touch the stove, this crowd will form the nucleus of what will be known as the “class of ‘25 maxis”
Overall it’s net positive. When the largest asset manager in the world enters the fray it is no longer a “maybe” situation. Every financial institution in the world has to take this seriously now. Yes people will “touch the stove” and learn hard lessons, but that’s all part of the journey. Some learn sooner than others.