Doesn't matter what the catalyst...the extension must be realized. Yes I see what you are saying. Usually what will happen is some news ie the ETF ..then everybody piles on with fomo ...but the funny thing is they already missed out so fomo should be renamed slomo.
Some thoughts on two "new money" demand source potential for BTC in the coming 1-2 years Corporations = with the new accounting rule change, buying some bitcoin for your corporate treasury now at least makes a little sense. You no longer will have to mark it at its lowest traded price. You don't have to go all Michael saylor or anything. I dont think Uncle Warren will buy any LOL but I could see a tech company with tons of cash on their balance sheets allocating a small percentage. RIA/HNW US Retail = huge one. This is what the ETF hype is all about. No RIA is going to open a coinbase account for a client and go through all the headaches owning Bitcoin would entail. Compliance, taxes, new accounts, potential litigation. Forget about it. ETF solves all of this. They already have ETFs, it plays well with all tax and compliance systems, and no new accounts need to be opened oh yea and the new supply of the stuff get cut in half in 6 months..
Will the ETFs only buy crypto? Or is there a chance that they’ll be enthusiastic short sellers of the BTC futures contract?
Number 2 nails it. Uncle Warren can' t get his head around crypto.Last interview I saw,he compared it to the old chain letters. He also said he wont directly invest in real estate,because it makes no sense for him to be a landlord,BUT he invests indirectly in RE because its a no brainer. BTC ETF's will represent the same opportunity for sophisticated investors.An opportunity to speculate in the space without being a 'bag holder'. When the fund managers say 'the phone wont stop with new requests',I believe its existing clients making sure their portfolio has some exposure to the opportunity they see.
Why is anybody asking Warren buffet about Bitcoin?? That's like asking somebody really old about a new disruptive technology.
LOL I think they’re asking him to see if there’s any indication that some of that 150 billion could go into crypto. Also, that chain letter comment could’ve been him sandbagging.
What if BlackRock’s ETF turns out to be bearish on BTC? They could short the hell out of it on the futures market so all of the potential added dollars we’re talking about would push price down….
ill repeat again … what? Blackrock is going to have a spot ETF with tens of billions of dollars in it and secretly short the futures market on the other side (which they would of been able to do for years now)? You might want to rethink the mechanics here.