Just numbers that drive you crazy:
Spot ETF on Bitcoin — this sweet wrapper for institutions that don't want to get their hands dirty with private keys but want to profit from ‘digital gold’ — poured more than a billion dollars into the market in just two days. And twice in a row! This is not about ‘let's support a local startup’. This is: ‘Give me two! And two more tomorrow. And the day after tomorrow if the price goes up.’
The last time such numbers were seen was in January. Back then, everyone thought: well, it's a hype, the first wave, it will fall now. Well, it won't fall. Because now in this party are BlackRock, Fidelity, and other ‘too big to fail’ entities. If Bitcoin were a bad asset — would you seriously believe that these guys would dive in with hundreds of billions of other people's pension money?
Institutionals vs miners: a war for every satoshi
Right now, ETFs are buying more Bitcoins than miners can mine. Imagine a world where your cow gives three liters of milk a day, but the whole village wants five. That's how we live. HODLers are happy, miners are smoking on the sidelines, and Wall Street is buying everything — just to hop on the train before the next ATH.
What are they afraid of?
They fear one thing: that Bitcoin will surge ahead again. That this free, unregulated ‘code on the blockchain’ will once again place a fat question mark next to all their paper magic. Because Bitcoin is not printed. And it cannot be befriended with ‘unlimited QE’. So we have a simple choice: hold what can be printed, or what can only be mined.
And now a tricky question
Why have all these ‘mega-smart’ funds suddenly started chasing BTC and ETH like teenagers chasing a concert ticket? Maybe because they need to put their money somewhere that no longer holds any value by itself? Maybe they know that the fiat fairy tale is coming to an end? Maybe someone finally read Satoshi's white paper in their luxury offices?
Conclusion
Do you know what’s the funniest? This is only the beginning. A year ago, they laughed at the ‘crypto brothers’ in hoodies. Today, those same brothers sell them tokens for record amounts and go to sleep peacefully — without ties, but with a wallet where only they have the keys.
So yes, the bubble exists. But this bubble has already been fully bought by Wall Street. The question is — who is inflating whom now?
