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/biz/ - Business & Finance

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1692007 No.1692007 [Reply] [Original]

When this Bitcoin ETF goes live early next year, a tsunami of hot Wall St money is going to rush into bitcoin. Big finance had no easy and legal way of buying into Bitcoin, until now.

With only a $16 Billion market cap, bitcoin is still very small, there are hedge funds bigger than BTC.

Get ready for some mad price rises. It's gonna balloon upwards

To the moon, bitchez.

Also, nocoiners on suicide watch

http://www.etf.com/sections/features-and-news/bitcoins-now-available-etf-wrapper

>> No.1692011

>>1692007

dat self-reinforcing confirmation bias, why would "hot Wall St money" rush into bitcoin?

keep your head cool kiddo, rule #1

>> No.1692016
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1692016

>>1692011
why would "hot Wall St money" rush into bitcoin?

1. They can, now.
2. BTC negatively correlated with stocks, bonds, everything else.
3. Better store of value than fiat, and people are waking up to this. Ask Indians, Venezuelans, even the Euro and Pound have tanked this year. Money printing for ever.
4. Foundation to a new financial system.

>> No.1692027

>>1692007

Cute. You're not factoring in that Wall Street has this power of fucking everything up.

>> No.1692039
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1692039

>>1692027
maybe they will fuck it up.

But they can only do that by blowing a massive bubble first, and then crashing it. They can't make it smaller, it's already tiny compared to them.

>> No.1692046

>>1692016

ever heard of liquidity?

>> No.1692048
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1692048

>>1692046
The Winklevii own 1% of all bitcoin. They are providing the liquidity. The gemini exchange they set up is specially for high liquidity participants.

Also, do you think they haven't thought about this already? They're not going to make such a basic error as having no liquidity.

>> No.1692106

>>1692048

https://gemini.com/bsa-aml-policy/

>> No.1692508

>>1692007
>he doesn't know about GBTC

>> No.1692946
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1692946

>>1692007
There have been bitcoin etfs for a long time already

>> No.1693609
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1693609

>>1692007
Bitcoin will go sky high but not because of the ETF story.

>> No.1693635

>>1692016

>2. BTC negatively correlated with stocks, bonds, everything else.

wat

>3. Better store of value than fiat, and people are waking up to this. Ask Indians, Venezuelans, even the Euro and Pound have tanked this year.

BTC doesn't change the fact that there's no food in the grocery stores there.

Fiat collapsing takes everything with it, including cryptos.

Doesn't matter how much it holds value if it can't buy anything.