Post
Topic
Board Bitcoin Discussion
Topic OP
How the Bitcoin ETF could actually tank Bitcoin's market value
by
legiteum
on 25/01/2024, 16:18:34 UTC
I'm just going to throw a contrarian view out here for discussion...

What if, by positioning Bitcoin as a serious investment that is judged along side other investments in companies, real estate, hard commodities, bonds, and so on, that the scrutiny actually diminishes Bitcoin's appeal?

Bitcoin is now having a very strong light shined upon it. In a sense, it's being exposed to daylight for the first time, no longer being in the shadow realm of boutique techie investors like it has been.

What happens when "mainstream" investors find out that Bitcoin isn't really a viable mainstream currency, and that it's really only useful as a meme investment instrument with no inherent value beyond its own name? What happens when they find out that the "decentralized" thing is just a myth, and that, in actual reality, almost nobody uses Bitcoin (or any other cryptos) that way? What if the "serious" investment managers discover that the mythology behind Bitcoin is just... mythology?

What happens, in short, when Bitcoin ventures outside of its tight community of enthusiastic anarcho-libertarians--who desperately want Bitcoin to succeed for geopolitical reasons--and it is instead evaluated, coldly, like any other investment by people who don't have that political agenda?

And what if the first impression of millions of mainstream potential investors in Bitcoin is that it's just a super-volatile asset that only seems to go down in price?