Blackrock applying for their own Bitcoin spot “ETF” (trust)
Rumors that Fidelity will be buying Grayscale GBTC
Now you can ask your friends and family that don’t believe in Bitcoin if they think they’re smarter than BlackRock and Fidelity 😂🤝
Discussion
The Deep State will start paper bitcoin trading. Future contracts & options on futures. It is a way to control the price by selling billions of dollars of futures short, and then buying paper contracts to close out those futures. Why is gold only 1900 an oz? Market manipulation using futures contracts..
The reason why this happens with gold is because you can’t verify the total supply of gold, so more gold can be sold via paper than total supply above ground. That’s why gold is obsolete. Completely different than Btc.
They can do the same thing to BTC, driving the price down by shorting more futures contracts than there is BTC. If they had to buy BTC to settle those trades, it would be different, but paper will be available and used. I've seen data that Deutsche Bank alone is carrying 5 times the GDP of Germany in gold short futures. That's twice the GDP of the EU. If the futures were settled in physical gold, the price would go straight up to who knows where. But it won't be. It's a FED/WEF/IMF/Rothschild/Davos game. BTC ETFs are not a healthy investment for free market capitalists.
I disagree
These applications by Blackrock/fidelity are Trusts not actual ETFs…they are going through iShare. They will buy bitcoin in bulk (as they have been for the last 1+yr and eventually sell/buy more depending on demand of their shares.
At the end of the day, more institutional buying, less liquid supply on the market for people to buy. Number goes up.
I hope you're right, but I have my doubts. Guess we'll see.
Healthy skepticism is good! This also solidifies in people’s eyes that the govt isn’t going to make Bitcoin illegal if these massive power houses of industry are behind it