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0 sats \ 2 replies \ @Diablo 3 Jan \ on: Bitcoin spot ETF - Sell the News? polls
With the financial market already playing a role in Bitcoin, ETF approvals in the U.S. are probably already priced into the current price. The last two months have had tremendous growth with little news outside the halving getting closer.
It’s has also been mentioned that Blackrock will purchase $10,000,000 Bitcoin this week as well, which is not really that much for a company there size. Basically, 233 Bitcoins.
The end of the hype with an approval will probably lead to a sell off so people/companies can take profits.
Ultimately, the approval will lead to an all time high since the approval from the SEC will lead to basically an unofficial statement that the U.S. supports Bitcoin and have no intent to “attempt” to ban it as China tried in the past with mining.
Blackrock manages the money for 120 million people and you think they're only going to need to purchase $10 million in bitcoin? lol
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If you read my statement, I said this week they planned to buy $10,000,000. I’m well aware of BlackRock’s as a whole. That statement was probably unnecessary, but the idea was that a few articles I read made it seem like that was a large sum of cash; in reality, it’s not for a company its size.
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