Oddbean

The ETF approval was the beginning of an hostile takeover by banksters and the establishment to capture bitcoin because it's destroying a century old business model of putting nations and people in debt and dependence. A very important point being that these ETF bitcoin are gone and locked (perhaps forever) since there is NO in-kind redemption, meaning people will never see a bitcoin in their wallets - only fiat or shares. Why was this huge and unprecedented exception made ONLY for bitcoin? Every other ETF transfers the commodity if you wish so, be it gold, silver, platinum or shares of a company. Besides, isn't it strange that all these banksters, hedge fund / asset managers always fought bitcoin with propaganda, fake news, teeth and nails and all of a sudden are in favor of it? The simplest solution is the most likely. They embraced bitcoin to suffocate it and let it die or imprison it. And there's another piece of the puzzle. Swiss Xapo Bank (registered in Gibraltar and a huge sponsor of Bitcoin 2024) is a bank for the wealthy and stored more than a million bitcoin in their Swiss Alps bunkers. Their digital asset division was bought a few years ago by Coinbase and all the military grade USB sticks and devices were transferred to US vaults. Coinbase - the same entity storing the bitcoin for most of the ETFs and holding already their own and customers aprox. 2 million bitcoin. What coincidence... Watch the video with McCormack and Webb & Goodwin (there's a 2nd part): https://m.youtube.com/watch?v=zcg7MiHpKgo&pp=ygUQd2hhdCBiaXRjb2luIGRpZA%3D%3D