ETF will disappoint either way

 

247 Bitcoin

Bitcoin & Crypto & NFT News

247 Bitcoin -1 Bitcoins -247 BTC - 1 Crypto - Kryptous

1 News - 247 News - 1 Search - 1 eBooks

 


In my opinion the anticipated SEC decision on the ETF won't sway the bitcoin price as Borge sides are hoping. The W twins are probably sitting on the bitcoin they need to launch the fund given they've been waiting so long for approval. They will reap a ton of money chopping up each coin by 100 and hoping for a premium on each share. But for the volume they will commit and some thinking that they'll be tightening the supply, they already been essentially out of circulation.

For those assuming a crash, bitcoin has withstood being frozen in the highest volume markets and barely budge but quickly rebounded. Imagine the Citi or Chase freezing assets. There would be a run on banks and the economy would slow to a crawl.

The ETF is nothing buy hype for hopefuls. If anything it will draw more interest to bitcoin but if it gets rejected, asGBTC shows, that there wasn't much public interest. Only interested brokerage firms hoping for another opportunity to make a commission

submitted by /u/BCJoey
[link] [comments]

 

247 Bitcoin

Bitcoin & Crypto & NFT News

247 Bitcoin -1 Bitcoins -247 BTC - 1 Crypto - Kryptous

1 News - 247 News - 1 Search - 1 eBooks

 

Leave a Reply