supiter on Nostr: #GBTC is NOT experiencing pressure to lower fees. This is the only chart they care ...
#GBTC is NOT experiencing pressure to lower fees. This is the only chart they care about. (See below) Fiat returns on the trust. As #bitcoin goes to $100k + they will keep milking fees for as long as they can. Even if another 250k of #BTC leaves the trust, they will still sit on a cash cow worth milking. They promise to lower fees but my guess is that they will stretch this as long as they can and eventually go to 99 basis points. Over the next couple of years, they will end up with ~100k #bitcoin, which will still be worth $10B minimum. 1% of $10B is $100M in fees yearly.
Published at
2024-03-20 15:04:34Event JSON
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"content": "#GBTC is NOT experiencing pressure to lower fees. This is the only chart they care about. (See below) Fiat returns on the trust. As #bitcoin goes to $100k + they will keep milking fees for as long as they can. Even if another 250k of #BTC leaves the trust, they will still sit on a cash cow worth milking. They promise to lower fees but my guess is that they will stretch this as long as they can and eventually go to 99 basis points. Over the next couple of years, they will end up with ~100k #bitcoin, which will still be worth $10B minimum. 1% of $10B is $100M in fees yearly.",
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