pull down to refresh
Never exceed 10% ? So you think the few ETF who will survive the first couple years ( it s probably not going to be more than 4 or 5 being given the competition ) won’t gather more than roughly 2M BTC ?
GBTC just by itself before the launch of the ETF had more than 650k BTC. So already 1/3 of the 2M when the financial advisers world get pressured, acquire the lingo and get incentives in directing clients towards ETF, capital will probably flow into BTC ETF and also, think about all these IRAers who invest a piece of each of their paychecks every month… for years and years to come. You might be right but i think 10% is a little conservative.
Lets see
Who is holding most of the bitcoins?Who is holding most of the bitcoins?
1.1 Million Satoshi - I dont think he will sell it to ETF
Binance 6,43546 - May be Binance is a potential seller to ETFs
Grayscale ~ 537000 - May be they will keep selling to ETFs
US govt - 2007189 - May be potential seller to ETFs
mt GOX - 200000 - Will be divided to original holders who are all likely to hold
China Govt - 194000 - May be going into Chines ETFs
Microstrategy - 152800 - Surely not for sale
Block.One - 140000 - Not likely for sale, but cant say
So add up all this 1.85 million - Maybe - max to max
2.1 million for 10%
By the time 1.85 million is accumulated the price can shoot out to tens of hundreds of million per bitcoin
yes.
always buy the real thing if you can
but lot of lazy people will buy ETF - i think ETF total will never exceed 10% of total supply
By the time ETF supply goes nearby 10% the price of BTC would be in multiple millions and further increase in percentage will be difficult for everyone as price moves northwards.