Big Institutions Intervention: Good or Bad for Bitcoin?
10 sats \ 1 comment \ @Uniky 24 Jun 2023 bitcoin freebie
The popular narrative is, if these mega-institutions (BlackRock, Fidelity, Invesco, etc) are filing for Bitcoin ETF, they would need to buy Bitcoin itself to make that ETF happen, and they need to buy A LOT. That would entail bullish for bitcoin, since the purchase would be in the trillions and billions.
However, a small section does foresee institutional control over Bitcoin. It is unclear as they are planning to execute that, but surely they see something in Bitcoin to file an ETF on it. Would love to hear your opinions on this, as a long-term investor in Bitcoin and/or someone who believes in Bitcoin's future prospects.
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0 sats \ 0 replies \ @OriginalSize 24 Jun 2023
Everything is good for Bitcoin. If they set these things up and operate honestly they'll make everyone a lot of money. If they try any, and I mean any, games they'll get wrecked and everyone will learn another valuable lesson about what real bitcoin is. Hint: You have it in a wallet under your control.
It hasn't been long enough since FTX and related failures for everyone to forget, right?
What I can see happening is they create this ETF and pump the shit out of it to try and draw coins out of cold wallets, before going under and it's gone.... My advice is if you want to sell some during the coming pumpstravaganza do it via no-kyc p2p exchanges like bisq and Robosats so it stays the hell away from them.
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