Hey all, I'm back here on nostr after being dragged into x for the last few months. I've renewed my paid relays and followed a lot of new people. Interesting times are ahead and I'm looking forward to navigating them all with you guys here. πΊπ
So many bitcoin luminaries, great people way smarter than me, as well as YouTube and x grifters have been talking non stop bullish around the combination of the etf and the halving.
But none of them, that I have heard, have considered the 600k disgruntled gray scale btc that might have been waiting for years to escape and now they have their chance.
At the halving the yearly output will be approx 160k btc which over 4 years is just over 600k.
This means the halving might not actually happen if all the gbtc is sold as well.
The supply shock could well be too much bitcoin!
How the hell does anyone fall for the false narrative from Elizabeth Warren? She, a totally hollowed out shell of a human, is condemning the bitcoin etf as an enabler of money laundering. All while she fully supports and pushes the continued funding of the war in the Ukraine which is provably the biggest slush fund money laundering operation in many years.
What an evil bitch.
Well I'm confused. After months of experts saying the etf approvals were going to create massive green candles it seems that a record opening day of $4b actually pushed the price down. What happened to the multiplier effect x118? Do we now have a paper bitcoin problem? I know there were issues with vanguard etc and I know gbtc holders might have dumped but does that really explain this fizzer of a day?
In any case I was pleased to be able to buy some more at yesterday's prices, which I was not expecting to be able to do.