131 sats \ 3 replies \ @rod 16 Oct 2023 \ on: deleted by author bitcoin
The market makers are nothing but cunning, this could have been planned to test the effect of the news and understand the buying a selling pressure that will be generated to be ready to drive the price to target.... Blackrock and Fidelity are not small companies their resources are vast and therefore they will be able to create buying pressure and sell pressure at will for some time.
Interestingly, the price of MSTR went up too. Some people say an ETF approval may be bad for MSTR, because shareholders would move to the ETF. Today's 'test' showed that's not necessarily the case.
For me it's relevant, because I have some funds in a pension I can't withdraw until a certain age to buy real BTC, but I can buy MSTR within it (and where I live, the ETF won't be available to me anyway).
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I’m in the same situation. I think it’s likely that the flow of new money into new ETFs would have a positive effect on btc and therefore MSTR, and outweigh any realignment from investors away from MSTR like you say.
There are definitely risks to holding MSTR as a Bitcoin proxy, but even if I could access an ETF I think I’d still own it.
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This is exactly my thesis for MSTR. The market dilution effect from the ETF approval is likely to be offset by the capital flowing into Bitcoin, the asset class
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