Wall Street is Coming For Your Bitcoin

It's become extremely obvious lately that Wall Street is undoubtedly coming for your Bitcoin.

They started by coordinating with the SEC to crackdown on existing crypto exchanges and infrastructure (speculation, but highly coincidental).

This crackdown led to a lack of trust in existing exchanges like Coinbase and Binance.

Then they hurt the payment rails. The ways to get Crypto in and out of Fiat.

This allows them to be one of the sole providers in the space. If you want Bitcoin exposure, buy the ETF with your standard brokerage account.

Wall Street is Coming For Your Bitcoin

Fidelity officially filed for a spot Bitcoin ETF. Blackrock's ETF is in the running and will most likely get approved considering their 575-1 win-loss rate on ETF approvals in the past.

The second part of this tweet is what really gets me excited.

Wall Street clearly wants our Bitcoin... How the hell are they going to get their hands on it when the supply that is available and circulating continues to dwindle right before their eyes?

The purple at the bottom of the chart shows the Bitcoin circulating supply continuing to dwindle while the black line shows the BTC price increasing over long time frames.

One argument against this position is that as the BTC price increases, people will sell their coins because they want to take profits.

While I definitely see this as true, I think a lot of people underestimate the increased demand as the BTC price increases and more people flood the space.

This space is tiny. Tiny tiny tiny.

When people start coming in, the supply available cannot meet demand. That means price to the moon. That's why BTC price swings are so violent and volatile.

WSJ Breaking News: SEC Calls Blackrock and Other Filings "Inadequate"

Some breaking news from WSJ this morning as the SEC has come out and called the Spot ETF proposals inadequate.

Despite this, the Bitcoin market hasn't seen much of a dip. We saw a quick wick down to $29,500 but we are already back to $30,300.

I don't see this as major news.

As Will Clemente said: the cat is out of the bag. Wall Street wants your Bitcoins and they will do literally whatever they have to do to get it.

That includes FUD'ing the price and getting us to dump our coins.

They'll pull out all of the stops to try and get us to dump Bitcoin into their hands.

Approval Imminent

I would be sincerely surprised if Blackrock doesn't get this approval pushed through. Politics, wars, governments, elections.... it's all financial.

And who is the biggest financial whale in the pond? Blackrock. The world's largest asset manager. More AUM than most countries have in GDP.

The game is rigged. It's rigged in their favor. As Bitcoin holders, we've had 10+ years to buy in before them. It hasn't been a straight path, but if you've held on, you will see them come after your coins. Just make sure you make them pay a heft price to get their paws on them.

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