Quote from: worldtraveller321 on March 29, 2024, 09:44:52 PM

So right now it seems the corporations want all of BTC. With Blackrock buying lots and lots of BTC. I consider this a catch 22 and a mix of good and bad.
What are your thoughts on this?

Sure for anyone who hodls BTC and Blackrock buying more, value goes up. so it works for people already holding BTC.
Yet it makes it harder for others not in the market yet to buy more amounts , they will have to consider buying less now if on a budget.

Is this a case of too much too soon? or do you think Blackrock a good thing? thoughts?

I feel like this topic has been beaten to death already with all the ETF / Blackrock threads since this year and even going back to last summer.

But let's be clear. Blackrock is not buying! They are buying ON BEHALF of their ETF customers. People keep talking about ETFs like it is the handful of investment firms that are buying up all this Bitcoin. Yes, they technically are the ones buying, but they are doing it with customers money, on the behalf of customers. So it isn't Blackrock buying up all this Bitcoin, it's myriad investors in the TradFi markets that are buying up the bitcoin through the ETFs.

Secondly, "it makes it harder for others not in the market yet to buy more amounts"...well, that is the case anytime anyone buys Bitcoin. If you follow that line of thought, then nobody should ever buy bitcoin because it'll make it harder for other people to buy bitcoin, therefore nobody owns bitcoin and it is worth $0 and doesn't exist anymore.

There is no such thing as too much too soon. Bitcoin reached a mainstream global audience 7 years ago! So the average person has had 7 years to buy Bitcoin. It isn't the TradFi investors who are buying bitcoin through the ETFs fault that the vast majority of people still don't own bitcoin.

The purpose of Bitcoin is not for everyone to get a great deal on Bitcoin. It's a currency - the purpose is to own it and use it. Everyone is able to choose if and when they decide to buy Bitcoin. Everyone who has wanted Bitcoin before the ETFs opened up Bitcoin to the US TradFi world already bought it. The ETF buyers are market participants just like anyone else (though of course they aren't holding bitcoin itself but holding it purely as an investment through a financial product). The people who haven't yet decided to own bitcoin don't get some sort of preference to get to buy it before TradFi people lol. If they wanted to buy it already they would have.