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Topic: $10,000+ is perfectly possible in a post-ETF era - page 3. (Read 2596 times)

legendary
Activity: 3290
Merit: 16489
Thick-Skinned Gang Leader and Golden Feather 2021
I don't know if you understand what ETF really means. This is huge for the non-geek investor to hold bitcoin. It will be possible for anyone to go into their local banks, and tell the employee to but you some COIN shares, anyone can do this.
It's like buying "paper gold": if you can't hold the gold in your hand, you don't own it! The same with Bitcoin: if you don't own the private key, you don't own the Bitcoins.
Bitcoin isn't like any other share. What if the ETF managers mess up and "get hacked"? It happened to various exchanges. What makes you think this ETF will be any different? And why would you trust them with your money in the long term?

Don't get me wrong, I like the idea, but I have some reservations. I can also use the same argument in favor of the ETF: what if you lose your own private key? What if your wallet gets stolen? What if your own computer gets hacked and the hacker takes your Bitcoins? This has happened much more often than exchanges getting hacked, and a centralized ETF could protect your own Bitcoins when you fail to do so.

I can't respond to your $10k prediction, that's possible with or without ETF, just like $100 is possible. There is no upper and lower limit, only a combination of chances, greed and fear.
sr. member
Activity: 392
Merit: 250
I agree with you that we will see an significant rise when its aproved. But it will not happen in march. So we we will see an significant dump in march. And i am fully prepared Smiley But when it is aproved we will see 10k easily within a year.
legendary
Activity: 1204
Merit: 1028
And please, understand that i don't mean that the price will immediately pump to $10,000+, im just saying that if the SEC approves ETF (and it will, if not on 11th, then the next time, it will happen eventually) we will see new, never seen before, streams of money coming into bitcoin.

I don't know if you understand what ETF really means. This is huge for the non-geek investor to hold bitcoin. It will be possible for anyone to go into their local banks, and tell the employee to but you some COIN shares, anyone can do this. Once people get gains with that, it will spread, everyone can get in with no technical knowledge about bitcoin in a safe, regulated way. So all those old millionaires, or your regular person that just wants to hold BTC but isn't really sure how to do it, will be able to get in thanks to the COIN shares. Of course I personally recommend people to learn how to buy and hold actual BTC, but we can expect everyone to do that and COIN will be 'it', the missing link to get the average investor that is not into cryptography/computer stuff. This means potentially billions of increase on the marketcap. With some time price going x10 is perfectly plausible. How long it will take? I don't know, but it opens the door for that possibility to happen.
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