RE: Insider Trading

I still believe the reason they won't approve an ETF is because ETF's are, by law, required to back their "shares" with 100% of the underlying asset. Thus, if ETFs existed it would take that much more Bitcoin out of the markets and lock it in cold storage. This would lead to a very obvious fact: way more Bitcoin is trading hands than actually exists. The short squeeze that could happen would be epic. Like, Bitcoin to $1M epic. With only futures out there, the legacy markets are able to manipulate the paper to control the price. This is what has happened to silver and gold. If there were ever an event that could force delivery of the actual hard asset, the entire world's financial system would blow up. But they won't allow it. Every time gold makes a run, somebody "shorts" a bunch of gold on paper to keep it from making a run. In the meantime, more gold is being pulled from the ground so the supply can eventually offset the upwards pressure, and then some economic event can give them all a chance to get back to zero. In the meantime, mom and pop holding gold get nothing. It's all a scam but it's "too big to fail" because all the big money is in on it.

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