Bitcoin ETF to prevent the rise of Gold? \ stacker news ~bitcoin

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Bitcoin ETF to prevent the rise of Gold?

70 sats \ 9 comments \ @cryptofolyo 15 Jan bitcoin

Gold is testing 2000 $ per ounce for long time now. If it breaks upwards and shoot up people may exit tradfi and park money into Gold

Money can be locked in TradFi by launching and marketing bitcoin ETF and allowing Bitcoin to grow to Gold market cap

Is that the game plan?

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110 sats \ 5 replies \ @siggy47 15 Jan

Gold ETFs have been helping to suppress the price of gold (with assistance from futures and options markets)since they were issued. Now it's bitcoin's turn.

51 sats \ 4 replies \ @cryptofolyo OP 15 Jan

I think the same. Gold is hitting and trying to cross 2100 USD per ounce multiple times now

In 1934 Gold was revalued from 20 USD per ounce to 35 USD per ounce overnight with the Gold reserve act

Similarly as described in my article https://bit.ly/dollarhyperinflation there can be revaluation of gold by means of melting up above 2100 USD ot 20000 USD per ounce in which case investors might flock into gold from tradfi which the tradfi world doesnt want to happen.

So the choice is to keep the gold prices suppressed.

Now Gold Market cap is around 14 trillion bitcoin just 1 trillion , if bitcoin etf is pushed and the market cap of etf allowed to rise to the level of gold marketcap it may be easier to continue the price suppression

0 sats \ 3 replies \ @siggy47 15 Jan

I agree. Ultimately the bitcoin price will rise significantly. When it's where Wall Street wants it, it will be controlled.

0 sats \ 2 replies \ @cryptofolyo OP 15 Jan

But by that time it may be difficult to control

Other countries like elsalvador may come up with ETF settling with Bitcoin instead of cash settlement and likewise

70% of current bitcoin has not moved last 1 year That means only a max 30% may be available for centralisation and there will be competition amongst centralised players to gain custody of these centralised bitcoin

Centralised bitcoin ETF with custodian publishing a ledger of holders agains the custodial bitcoin in Blockchain may get more acceptance in the market and many such players may emerge

Finally it will head for short squeeze and all the centralised players having not enough bitcoin in custody will go belly up

0 sats \ 1 reply \ @siggy47 15 Jan

Best case scenario. I hope you're right. It would be sweet watching a few fiat institutions get rekt. I'm not going to spend time worrying about it. I'll just keep stacking sats and do my part to aid adoption. It's out of our control anyway.

0 sats \ 0 replies \ @cryptofolyo OP 15 Jan

Please share ur thoughts about my article if u have the time to read it through

0 sats \ 0 replies \ @oliverweiss 15 Jan

I don’t know how investors think, what is the game plan, if there is any, I consider both assets as an insurance against the bad times. And Bitcoin as a way out of the fiat system on top of that. If sh*t happens, like a large scale war, both assets will “explode”.

0 sats \ 0 replies \ @TheBTCManual 15 Jan

While I do think there are a lot of paper out there trading hands in the gold market, I do wonder if gold is so insanely underpriced due to paper claims on it, wouldn't we see massive premiums in illiquid black markets for spot gold? How much is the premium there versus these regulated markets?

I've heard there's a lot of these gold dealers charging 10,20,50 even 100% above market rates in some markets, but are these scummy dudes or is that just premium for spot?

0 sats \ 0 replies \ @cryptofolyo OP 15 Jan

https://bit.ly/dollarhyperinflation