Wait a minute, hang on. "Gold shall destroy the fed," Q says, but, does that mean a return to the gold standard? Not so fast, says Michael Saylor, pioneer and staunch advocate of "demonetization." This company, MicroStrategy, currently owns 2% of all Bitcoin in existence. Is he onto something? - The Great Awakening

Wait a minute, hang on. "Gold shall destroy the fed," Q says, but, does that mean a return to the gold standard? Not so fast, says Michael Saylor, pioneer and staunch advocate of "demonetization." This company, MicroStrategy, currently owns 2% of all Bitcoin in existence. Is he onto something? (twitter.com)

posted 12 days ago by catsfive 12 days ago by catsfive +36 / -1

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– catsfive [S] 2 points 11 days ago +2 / -0

Sure, that's cool. I'm absolutely not denying that you have a good point. You are absolutely right that in commodity markets like gold and silver, naked short selling involves selling contracts for commodities that the seller neither owns nor intends to borrow, leading to an excess of "paper" claims over the actual physical supply. This practice can artificially suppress prices and create market distortions. Similarly, Bitcoin futures-based ETFs, such as the ProShares Bitcoin Strategy ETF (BITO), hold futures contracts rather than actual Bitcoin. This setup can result in discrepancies between the ETF's performance and Bitcoin's spot price, especially during market conditions like contango, where futures prices are higher than the expected spot price at maturity.

My point revolved mainly around BlackRock's iShares Bitcoin Trust, (IBIT) which is structured as a spot Bitcoin ETF, meaning it holds actual Bitcoin to mirror the cryptocurrency's market price. The fund's assets consist primarily of Bitcoin held by a custodian on behalf of the Trust.

Let's hope we see more spot ETFs entering the market, and that this doesn't explode into a unregulated hellhole.

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