ETFs Make Bitcoin’s Problems Even Worse

If you just bought a little bitcoin anytime over the last 10 years it would of objectively helped your investment performance.

How do you know that fact but still call it worthless?

 

Absolutely right.

I bet if any one of these fools calling Bitcoin worthless received a Bitcoin in their wallet, they would be leaping for joy.

Value is not what you think it should be, but what everyone else thinks it is

 

...and liquidating that windfall before hitting the ground.

 

I thought it was worthless though? If you magically got gifted 1 bitcoin, you wouldn’t sell it for 42,000 usd you would just throw it away since it’s worthless?

 

If I had a worthless, broken umbrella and you wanted to buy it for $42,000, then I would sell it to you for $42,000.

 

Anyone would, but unlike Bitcoin a broken umbrella is not valued at 40k+

 

Its intrinsic value is about the same. The only difference is price.

 

And price is all that matters. Stores don't accept intrinsic value for purchases.

 

Cool.

 

Until 10 30 am today, ETFs were in sync with the market. Then they started to decouple. I wonder if sales in BTC is driving down the ETFs, or something else...