I don't feel like it's an argument. I won't sell a single sat, and I'm bullish long term on bitcoin. This will allow its price to be manipulated short term, though. Before bitcoin existed I owned GLD. I was a gold bug, and I bought the GLD etf because it was real physical gold, not the DGL which I thought of as paper. I still own GLD in a retirement account. Farrington explains why, when dealing with a commodity, this type of etf is really a trust, like Grayscale. It's not the end of the world by any means. It just won't bring these huge price gains everyone imagines.

Speaking of which, check out BTC price action just after the approval of the first futures etf. Everyone anticipated a surge in price, and instead it was the beginning of the 2018 bear market. That was either intentional manipulation or typical "sell the news" price action. Same thing when El Salvador adopted bitcoin. We all expected a price surge. We got a dump.

Look, we're on the same team. I hope I'm dead wrong and that you're right. I'm just expressing my opinion.