According to many investors, having a spot Bitcoin ETF will mean a lot for Bitcoin, and crypto in general.
Regardless how Gensler 'feels' about market manipulation, and money laundering, the market is still fueled by supply and demand...and seeing the demand for a spot Bitcoin ETF, it's clear that it is soon to come.
Fidelity had a meeting with Gensler concerning their ETF, and even though I believe the likes of Fidelity, and BlackRock getting involved in Bitcoin, and crypto, is a huge negative for those of us in this space, I have no say in what the SEC does... unfortunately.
With that said, agree with me or not, this IS a huge negative not because of 'exposure' to the asset, but because of who is holding it.
In a post a while back, I, and others, described exactly what it would look like...and it isn't good.
BlackRock will hold, and people will buy. But they will NEVER see a single sat. BlackRock will keep the asset, and give users dividends, in fiat.
That is how it works, and like it or not, an entity like Vanguard or BlackRock who have huge influence over billions of dollars of assets, will never let the Bitcoin out of their greedy mittens.
That could be thousands upon thousands of Bitcoin out of our hands, for good.
Forget the fiat price, think about what that will look like in the future.
More scarcity, and more miners entering the market to get their hands on the few precious sats left.
We WILL see Bitcoin manipulated by these companies, only to fill their pockets, and nothing will be done to stop them...why?
Because they run the world, huge asset managers like them not only control the world, but governments, and companies, and have the power to decide who lives or dies.
Remember, fiat cash is going to CBDCs, and when you get payed for your Bitcoin investment in CBDCs, your every transaction will be tracked.
They can do whatever they want with your account, and they hold the real asset while you and I are left holding the empty bag.
Yes, this took a turn for the worst, but let's really consider what is at stake...
Let's hope for the SEC to DENY all ETFs...
Thanks for reading, and please let me know your thoughts in the comments below....👇🏻
