Ok so most of us are hodlers and work hard to hold on to the btc we have. Now there is increased interest in bitcoin, especially with the ETFs. I think I read 23 billion worth of bitcoin was sold in an ETF last month. My question is : who in the world is selling all this bitcoin. Are these all from the big mining companies and exchanges? I guess I’m surprised the price hasn’t gone up even further, and that there is even enough bitcoin to sell. I can’t help but see the price really shoot up after halving. But yeah - where does all this btc being sold come from?
211 sats \ 2 replies \ @DarthCoin 19 Mar
IDIOTS
reply
0 sats \ 0 replies \ @karanjajes 24 Mar
I agree with you, they are IDIOTS!
reply
0 sats \ 0 replies \ @x2646 OP 19 Mar
😂
reply
110 sats \ 0 replies \ @StillStackinAfterAllTheseYears 19 Mar
You know all the snark nocoiners throw out about the "greater fool?" It's not totally wrong, and in some cases, you've got the people who think they've found greater fools, and are cashing out for fiat. The fact that they're the actual fools is the irony here, of course.
reply
101 sats \ 0 replies \ @nullama 19 Mar
Most "real world" people don't understand anything about Bitcoin, and they only bought it in the hopes of selling for more in a week.
None of them have a wallet, they all have "their" BTC in the exchanges, ready to be sold.
reply
100 sats \ 2 replies \ @nikotsla 19 Mar
Those ETFs made another layer, you could trade X amount of BTC but it will never move in the blockchain, it's like paper btc for me. Is in that place (not in the blockchain) that most of these trades works. It could be like a fractional reserve bank... just 1% of real BTC could be responsible of a big chunk of the market.
reply
0 sats \ 1 reply \ @oliverweiss 19 Mar
Don’t ETF funds need to have underlying Bitcoin in theirs holdings?
reply
0 sats \ 0 replies \ @nikotsla 20 Mar
Yea, but... who watch the watchmen? the auditory isn't every min/hours, and... there is a kind of "consolidation" process so it's not "automatic", in that time frame the price de-peg from the underlying asset and you start playing their game, the game they own and know.
reply
0 sats \ 0 replies \ @joda 19 Mar
yes WHo Are these Losing EntitieS anyway?
reply
0 sats \ 0 replies \ @0xbitcoiner 19 Mar
It's important to be aware of what's going on, but don't let it consume you. Focus on what you can control and make the most of the situation.
reply