Plan B thinks that the flows into Bitcoin ETFs are mostly just people selling their on-chain Bitcoin for the convenience of an ETF vehicle. So it’s a “transfer” vs new purchases. That could explain why despite the massive ETF inflows, the price action has remained pretty subdued. Interesting take.
$VT (Vanguard global stock index ETF) continues to push to new all time highs. Once you are used to the volatility of Bitcoin, owning stocks is so easy. And they just go up…
Was just listening to Pomp’s podcast and Jordy Visser discussed Waymo coming to NYC. I know it’s working in San Fran and Austin but there’s a level of civility in those cities that is lacking in NYC. Will Waymo restrict the cars to a certain area (like Midtown Manhattan only)? How will they stop vandalism? Will the cars reek of weed after a week? I don’t think it works in NYC…