The SEC didn't deny the Bitcoin ETFs last week or kick the can down the road until the ruling date. They SEC essentially said if you want to get this approved, here's what you have to do. And they all did it. 👀
View quoted note →
Blockrock and most will rugpull in the future.. now they going after rich ppl with this etf. Old men and women about to loose they grandchildrens money just like in the 2008 robbery with China that they call a crisis or recession
Hold on boys.
The data has been collected and gone through.
They don't wanna miss out on this halving.
We may never see bitcoin at 30k again after this.
View quoted note →
And then after their rugpull most will realize the benefits of self custody. My cousin will be one of these sheeple I'm refererring to. I've been spending years trying to convince him to hodl BTC. It wasn't until Blackrock announced their ETF that he said he's going to "buy" BTC. Their etf, of course. Smh. 🙄🤷♂️
I don't get it either, man! I really see no logical or practical sense in buying any BTC ETF. They're literal trash. This will further destroy Coinbase' reputation. No doubt! 🤦♂️
Anyone and everyone can get exposure to bitcoin today, without a spot ETF. Once ‘institutions’ have that exposure and custody over all those bitcoins are they going to magically give it up and encourage self-custody and a trustless system after step 1 in the multi step process?
I don’t think so. I think it sets Bitcoin back in the long run to allowing truly censorship resistant money for anyone and everyone in the world. Locking up that much bitcoin in the hands of our traditional financial system isn’t how bitcoin was meant to be used according to this - “A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution.”
I hope I’m wrong though.