The Bitcoin futures ETFs that were launched 2 years are effectively a short position on the bitcoin price held by the financial institutions.

They allow their customers to have long exposure to the bitcoin price, but they own any bitcoins. They are liable to pay out in fiat money for any amount of increase in the BTC price.

At some point the entire financial system could get squeezed by an up move in the bitcoin price. It could bankrupt them. Of course the government would bail them out with more printed money.

Are we looking at an accelerating endgame for Fiat money?

Will Bitcoin be playing a larger part in it than we had ever imagined?

Is bitcoin a singularity in the financial system that will suck everything else into it?