Today, the market is dumped ETF seems not to make difference to the price tho
https://twitter.com/WhaleWire/status/1748065165491188212
what do you guys think?
https://twitter.com/WhaleWire/status/1748065165491188212
what do you guys think?
I think that this twitter poster does not know "maf":
0.001% is 1/100000 of value.
1/100000 of about 800 bil is 8 million.
I am 100% sure that more than 8 mil was deposited into ETFs.
In fact, it's more like 80-100X of 8 million.
Correct. The correct value is 0.1%, and that is the daily trade value, not what is held, which is probably higher.
The total gold ETF market cap is 1.7% of all gold.
I'd say BTC has done well getting 5+% of that share within a week.
Consider that gold is a much bigger marketcap pie and the ETFs have been trading for 20 years, and importantly does not have the massive new supply limitation every 4 years.
It will be very interesting to see where this goes 4-8-12 years from now.
Furthermore, that tweet is extremely negative from the first few words. It's like saying here in the UK temperatures dropped to yearly lows yesterday. It's just stupid. The year just got started!
Not until you are about halfway through the year do I think it's acceptable to write stuff like "yearly lows" etc.
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