Bitcoin ETFs are quickly becoming the modern-day version of Executive Order 6102
148 sats \ 2 comments \ @hasherstacker 11 Jun bitcoin
Bitcoin ETFs are quickly becoming the modern-day equivalent of Executive Order 6102 from U.S. history. Just like the order, which prohibited the hoarding of gold during the Great Depression, Bitcoin ETFs prevent people from owning Bitcoins, but instead let them own some worthless tokens/certificates.
With more than 30 Bitcoin ETFs collectively owning over 1 million BTC as of May 24, it's clear that once you trust the central entity and think that compliance is necessary, you are definitely losing your sight, becoming comfortable in darkness. Remember: "Don't trust, but verify. Be your own bank". If you sell your precious sats in return for some worthless tokens, you'll remain a slave, and never be free.
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13 sats \ 0 replies \ @JesseJames 11 Jun
One has to keep in mind that self-custody is not for everyone. For people that don't know, or understand, are too afraid or need always someone else to blame, that's a fair game. Good in general for BTC as advertisement and for the greater good. What one does with their money is a personal thing, no one forces anyone to get it, it is an option (for now). Even if they offer in one's employer 401K at work, one doesn't have to do that. Set % of one's pay that's comfortable with and start DCA at the favorite BTC buying place. I bet in a few years the results will be way better.
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0 sats \ 0 replies \ @siggy47 11 Jun
It's an intriguing take. I'm not sure I'm ready to walk that far down the conspiracy path yet, but Fink's involvement is ominous. Regardless, the combined ETF totals held is still a low percentage. Let's hope the whales resist.
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