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Grayscale holds 643,572 #bitcoin in $GBTC which is likely to soon turn into an ETF. There is no scenario where BlackRock wants to be the 2nd or even 3rd largest ETF out there.
BlackRock likely cannot acquire enough #bitcoin on any public or private market to become the top player in this space. They will likely be forced to buy other big companies who hold large amounts of Bitcoin at an extreme premium AND acquire $btc causing absolutely enormous demand.
Aside from just BlackRock, if any of the dozen or so ETFs get approved, the demand for #btc is about to be much stronger than anything this space has ever seen. The first genuine Bitcoin supply shock is about to become real as there is simply hardly any available Bitcoin on exchanges and hardly anyone willing to sell.
Do not trade Bitcoin, only add to it. Deploy extreme patience. Stop following and listening to those that make you become irrational and shortsighted. There is literally no TA here that makes sense as we head into uncharted territory.
Most importantly, enjoy the ride ahead. Wishing success to everyone out there.🚀
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