HODL The Line

Photo by Michael Förtsch on Unsplash

It is on its way, the BTC ETF… WTF! How could this be anything but a massive pump to all the toxic maxi’s, stoically waiting for the rest of the world to catch up to them? We waited, watched it peak out at around 70k, drop to 17k and then enter the lowest volatility period of its relevant history. We heard ignorant politicians and esteemed business folk label it as anything from an insignificant ponzi to the greatest threat to the environment, global stability, and your grandma’s health. Now the business folk seem to be coming around; they want a piece of the action and who can blame them? They are the gatekeepers of literal TRILLIONS of dollars. Dollars that have been artificially kept out of the BTC universe by regulations and stigma. The stigma is wearing off, the regulations are, grudgingly, being relaxed to the point that shortly anyone (any Western-one) is going to be able to purchase the closest thing to real BTC without the onerous task of personal responsibility. When this happens, it is going to be on the Maxi’s, the HODLers, the people who have spent years trying to convince those closest to them that BTC needs to be owned by as many people as possible, to resist the urge to cash out. This is financial advice from someone who has no business giving it and who assumes no responsibility for your decisions. The longer we HODL the more valuable our HODLings become. I know this is simplistic, but it is also true. The ETFs will have only ~1.83 million BTC (according to CoinGlass) available to purchase once the ETF is approved. At today’s price, that much BTC would cost ~62 billion dollars (using 34k as the unit price). For the next few months, we will receive 900 new BTC/day but that is cut in half this spring. As money moves into the BTC ETF, we can expect the price to rise, to which we HODLers can respond in two different ways;