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?
Generally, a larger company, even something as heinous as blackrock buying into the bitcoin narrative and the crypto industry spells good news for the industry, and what better time than have it coincide with the upcoming halving and crypto bull run, which is why some people in here think these ETFs are what's going to be the narrative for this season's bull run. So in a manner of speaking, it's a good thing and we could expect bitcoin increasing in value over time.
However, since the market's gonna be opened to people who generally have little to no idea with how crypto works, we could expect a lot of panic buys and sells coming our way, so pretty sure this season's going to be a really tumultuous bull run for a lot of us. Add to this the fact that this is yet another outside power trying to use bitcoin for their personal profit, and we got ourselves a not so necessary evil coming our way, making a general mess of the whole crypto situation.
Oh well, I reckon it's gonna be time until we find out if these ETFs are for keeps or if they're going to pull it out once they figured bitcoin's too decentralized for them.