Acredited investors who have been buying gold etf IOUs for decades.
There's quite the naive view going around - it's about the biggest crony capitalist financial institutions and how they intend to greenlight trillions of USD flooding into Bitcoin and making millions of independent, random people around the world rich overnight. Be mindful 😅
A spot btc etf that holds btc 1:1 is very different than a gold etf that holds paper.
They are not one in the same and can’t be compared.
My view is that none of us know shit, and it’s fun to speculate, but to claim things that are untrue, and project them as guarantees is tiresome, boring, and at worst disingenuous.
Only a few guarantees in life. Everything else is speculation albeit slightly educated speculation.
Agreed. Consider your advice next time you claim any BTC etf has got o be 1:1.
The current spot ETFs that are offered in Can, Aus, and Europe all hold btc 1:1.
And are insignificant capital markets. They probably also offer real spot gold etfs.
Most times new financial products get tested in small Capital markets.
I know what you are saying, brother, but you have to come down to earth. If the spot etf is truly 1:1 and trillions pour into Bitcoin, the demand shock will break the matrix in an instant. Biggest wealth transfer in history to millions of untaxable by Uncle Sam people worldwide. Being skeptical here is just common sense.
I don’t think I ever said trillions will pour into the spot etf?
I just speculated that there will be offerings that differentiate their products by holding btc 1:1. For example, Fidelity plans to self custody, unlike other players. It will be the same with 1:1.
Why are people untaxable?
No I will not accept that every person who holds bitcoin is going to mix, and break the law. Nor do I accept the boating accident or hacking defense either.
Millions will hold it in an etf and our governments will take their cut. Millions will also hold physical btc and pay capital gains taxes, as they won’t know how or won’t learn how to break the law.
Ps - I don’t want to debate how these laws are unjust or that taxation is theft. 😇😀👊
Non-US plebs and entities holding their keys, who will see their fiat value skyrocket due to the spot etf being 1:1, are untaxable by the IRS. They will become extremely rich thanks to a US government employee approving a financial product for the US market only.
Hamas will become rich. Iran, N.Korea, criminals worldwide, sgadowy coders and whatnot. The CIA will be jelly af 😆
Hopefully Hamas becomes wealthy enough to blow Israel off the map.
Oooooh, too soon. Too soon for that take👀
I worked recently with some Palestinians and they were deeply affected by what is going on but weren’t keen on Hamas defining their plight. They were really lovely people. We need peace very badly 🤙
Hamas was created by Israel. They aren’t real. I was using the term as a generic argument for any group that wants to destroy Israel. I don’t like bullies. I don’t like bullies that cry a lot either and play the victim to continue their bullying. Just a pet peeve of mine.
I worked 4 years for an Israeli startup. Made some very good friends there that are still friends. Many moved to the US to get away from Israel. Israel isn’t the people that live there for the most part. The brainwashing is real though. Starts young. Takes a heart & brains to break from it.
Nor are Israelis or Zionists the same as Jews who actually believe in God. Not the same at all. Zionism was founded as secular humanist. It’s about Freemasonry and construction of the third temple and other Satanic nonsense. Jews got extremely co-opted by this movement.
$5m AUM 🤣
Come on Canada. Love ya but nobody takes that place seriously.
Purpose has 2.1 billion in their btc spot.
You’re right it’s pittance, but it still can be used to test.
Love you brother. 👊👊👊
All speculation in good fun with much respect. Thx for playing again today.
😀🤙
I think what we need to acknowledge is that there will come a point when there is almost no supply for sale, versus insatiable demand. If the ETFs sell shares today on the expectation that they can shore up their BTC reserves tomorrow, they will find the price has completely run away. In 24 hours.
It will be not unlike GME. And the solution to that “problem” was simply disabling the “buy” button.
I suspect the same will happen here. ETFs will disable cash creates until markets “stabilize” while selling will remain available.
We’ve seen this movie before.
Remember, these ETFs all use a single broker (they don’t shop around) and they all reserve the right to choose and suspend their pricing model at will. And now they won’t allow any redemption which would allow arbitrage to balance the price globally.
It’s going to be fucking wild watching the next three years
And nobody buys them. They are a lemonade stand compared to the worldwide lemonade franchise ready to eat them alive.
How do you “know”?
