Oddbean new post about login | logout People holding stocks or real estate usually sell if the price is right. If you ask a Bitcoiner for what price they sell they will say it’s not for sale. #bitcoin is different because the hodlers wants to bring down the fiat system. Wall Street will find this out the hard way. They’ve never met people like Bitcoiners before. They will sweep up the coins of weak hands first, but then they will meet a brick wall of plebs that won’t sell before the price is so high that the fiat systems implodes.
And even then we will not sell. I might spend some on good weapons, meat, whatever fees to get access to things, places and services that others can't. But I will never spend it on real estate or gold to keep it as a store of value. So when wallstreet wants to get some of my corn, they will have to literally clean my room. And when they want their room to be cleaned, they will have to spend their corn.
Genuine question then — who is selling to the ETFs at this scale. I’m one of the bitcoiners you describe with BTC I’ll never sell…but supply is satisfying enormous demand without price skyrocketing
Yes. The fiat system and all the scum it represents, too.