Thinking out loud about what happens to BTC price if (when) Ethereum collapses FTX style. First instinct is: it crashes. But why would anyone sell Bitcoin though? Hedge and scam VC funds (a16z) who have to cover huge losses? The countervailing force is retail in the ETH ecosystem would sell for Bitcoin. Maybe some tether. That’s currently ~$500B of buy pressure into Bitcoin.
The reason why this is worth considering is if ETH’s inevitable collapse looks like March 2020 or Nov 2022 and not a slow grind to irrelevance, it would be an opportunity to load up the dump truck with cheap debt to buy when suits are panic selling.
toxicbitcoiner / Toxic Bitcoiner
npub1u8…m93f7
2024-04-05 14:07:20
Author Public Key
npub1u87g378r0puytp7zxdl5awg2gmqvqc3vgtnh6a0vfgm4y8es7c3qam93f7Published at
2024-04-05 14:07:20Event JSON
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"content": "Thinking out loud about what happens to BTC price if (when) Ethereum collapses FTX style. First instinct is: it crashes. But why would anyone sell Bitcoin though? Hedge and scam VC funds (a16z) who have to cover huge losses? The countervailing force is retail in the ETH ecosystem would sell for Bitcoin. Maybe some tether. That’s currently ~$500B of buy pressure into Bitcoin.\n\nThe reason why this is worth considering is if ETH’s inevitable collapse looks like March 2020 or Nov 2022 and not a slow grind to irrelevance, it would be an opportunity to load up the dump truck with cheap debt to buy when suits are panic selling.",
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