Same for vaccine additives? Like graphene-oxide and aluminum.

I started calling them shoulda woulda coulda coiners.

They should have bought yesterday and today.

They would have bought when it dropped to $10k (they didn’t buy at $3200).

They could have 10+ bitcoin if they had foresight.

They choose poor.

BTC might help or it might blow them up. They can't have 'diamond hands' because they have to continue making fiat payments as they go.

Best case scenario BTC over their time horizon is a +EV bet (but not a sure thing, even if you think long run BTC is a sure thing)

But pension funds aren't hedge funds. They're not supposed to make +EV bets that could fail to pay off (unless they make a lot of small ones which are uncorrelated). In financial engineering terms, BTC functions as a liquidity sink, which makes it highly correlated with other assets.

Thus it is highly irresponsible for a fiat pension fund to invest in Bitcoin.

As I said, I am an unbeliever so I think it is a strongly negative EV bet. But even if I'm wrong about that it's not the sort of thing they should be invested in.

They have fiat liabilities, not real liabilities

In before “we never said that”

THEY WENT TO EL SALVADOR FOR THE HALVING THO

I see a 6102 as inevitable consequence of centrally storing all those ETF sats. The temptation to acquire them to prop up a bankrupt state will be too great.

It does not worry me, I just find it funny that people choose not to utilise Bitcoin's feature - removing the need to trust 3rd parties.

I don't see it happening this cycle FWIW. I also don't feel the need to scare or warn people. The ETFs are still a much better option than RE & equities.

If you don't understand the need to custody your sats by now, it's on you.

The TAM for sov is like 10X that of currency, but the ops gets so butt hurt when he frames bitcoin as property. Only ppl short btc would complain