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9 sats \ 1 reply \ @freetx 15 Feb \ parent \ on: PlanB: “I have transferred my bitcoin to ETFs” bitcoin
but I'm surprised the US didn't have in-kind from the jump
Yea, they were part of original application put forth by Blackrock (who had huge incentive for it to take all GBTC deposits)...but Gary struck out that line.
Hopefully with a new admin less criminally minded we will see it added back.
in-kind will destroy them overnight
I think adding in-kind + bank custody will wholesale change the entire existing players. The large exchanges like Coinbase will be take over targets...and may continue to exist as an independent brand. However most of the other exchanges will receive offers to buy their customer base which they will either accept and go away or try and stay and fight..
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21 sats \ 0 replies \ @justin_shocknet 15 Feb
receive offers to buy their customer base
I think that explains all the lending startups, they're not here for the long term but rather to become acquisition targets.
I do recall seeing something about Hester Pierce etc working on in-kind, fairly certian it'll happen by year end. From a macro-economics standpoint, I think it'll be necessary just to prevent a deflationary death spiral by boosting he money-supply in a way that doesn't hurt the real world with inflated real estate prices and PE multiples.
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