“ BlackRock is legally and reputationally obligated to maintain 1:1 physical reserve for the paper Bitcoin, this drives up demand for spot as their customers buy paper.
MOST IMPORTANTLY
It turns Bitcoin into no-friction collateral, since ETF shares can be borrowed against as a margin loan.
Since the entire fiat financial system runs off debt, this is a missing piece needed for the speculative attack and why the deep state has been fighting spot ETFs.
Using margin, the cost will be trivial for someone to buy 2 billion worth of Bitcoin with only 1 billion in cash.”
https://stacker.news/items/314449/r/halalmoney
halalmoney /
npub1vd…97rjz
2023-11-13 15:43:44
Author Public Key
npub1vdaz78d96t7pjakpfmqqlr4wgq26l6vmkf25782n05qgdgtfmk8s297rjzPublished at
2023-11-13 15:43:44Event JSON
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"pubkey": "637a2f1da5d2fc1976c14ec00f8eae4015afe99bb2554f1d537d0086a169dd8f",
"created_at": 1699890224,
"kind": 1,
"tags": [],
"content": "“ BlackRock is legally and reputationally obligated to maintain 1:1 physical reserve for the paper Bitcoin, this drives up demand for spot as their customers buy paper.\nMOST IMPORTANTLY\nIt turns Bitcoin into no-friction collateral, since ETF shares can be borrowed against as a margin loan.\nSince the entire fiat financial system runs off debt, this is a missing piece needed for the speculative attack and why the deep state has been fighting spot ETFs.\nUsing margin, the cost will be trivial for someone to buy 2 billion worth of Bitcoin with only 1 billion in cash.”\n\nhttps://stacker.news/items/314449/r/halalmoney\n\n",
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}