To Be Approved or Not To Be Approved.
That is the question for the Bitcoin Spot ETFs.
Over the past few days, the Bitcoin market has been thinking of nothing else. Will BlackRock, Fidelity, and the other giants of global finance get the green light from the SEC to launch their financial products that will put an intermediary between the people and Bitcoin?
The way I've put it, it immediately makes you less Bullish.
Bullish for the price of Bitcoin, but Bearish for the future of the Bitcoin revolution.
Too many so-called Bitcoiners seem to have forgotten the Bitcoin revolution's deeper meaning.
On January 3, 2024, we celebrated the 15th anniversary of the official launch of the Bitcoin network by Satoshi Nakamoto.
These so-called Bitcoiners, who are merely influencers seeking financial gain, forget that Bitcoin was invented to free us from the middlemen who are the financial giants preparing to enter the Bitcoin world.
Let's not forget Satoshi Nakamoto's message from February 2009, in which he shared his vision of why Bitcoin was invented:
“The root problem with conventional currency is all the trust that's required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust. Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve. We have to trust them with our privacy, trust them not to let identity thieves drain our accounts. Their massive overhead costs make micropayments impossible.”
Bitcoin was invented to offer the world an alternative monetary system, independent of the yoke of governments, central bankers, private bankers, and financial institutions.
All these players do is debase the currency (central bankers), put us further and further into debt (governments), charge us exorbitant fees for their role as intermediaries (private bankers and financial institutions), and abuse our trust (this applies to all the players at the heart of the current system, which is flawed and not fixable).
As these Bitcoin Spot ETFs prepare to hit the market, I hope you'll keep this in mind.
Don't let the price of Bitcoin turn your head and distract you from the deeper meaning of the Bitcoin revolution. Generally speaking, readers of In Bitcoin We Trust seem to be well aware of this enormous risk, but I prefer to talk about it frequently so that, together, we don't forget what we've been fighting for with Bitcoin for years.
Here’s the Wall Street Giants’ 4-Step Plan to Steal the Bitcoin Revolution From the Hands of the General Public.
Beware, BlackRock, Fidelity, and the other Wall Street giants will try to reclaim their middlemen's place in the Bitcoin world.
Link: https://inbitcoinwetrust.substack.com/p/heres-the-wall-street-giants-4-step
In my eyes, the perfect time to buy Bitcoin is always now, because the time to shelter the fruits of your labor from the current system is always now. As soon as you can, you'll do it if you've understood the why of Bitcoin. That's what Michael J. Saylor is doing on his behalf or with MicroStrategy.
If you understand the why of Bitcoin, exchanging weak money (US Dollar, Euro, ...) for hard money like Bitcoin is a one-way process. Then, you have no interest in considering selling your Bitcoin for weak money to take partial profits that would be destroyed by this current flawed system.
By buying Bitcoin, your interest is to enter into a process of building a circular economy based on the Bitcoin system. That's what's at stake for the months and years to come. Don't let Bitcoin become just a formidable store of value that will never be spent.
Exchanging Bitcoin for weak money is a bad thing, but enjoying your life by making purchases directly in Bitcoin from Bitcoin-supporting merchants is a good thing. This is how an alternative circular economy to the current system is built.
Let's hope that more and more people will understand this in the future so that the Bitcoin revolution continues its march forward in the original direction towards which its inventor set it.
It's up to you and me.
No, Warren Buffett Is Not the Best Investor of All Time. That Unofficial Honor Goes to James Simons.
