Cound Bitcoin ETF Approval Lead to the End of Bitcoin?

Bitcoin ETF approval sparks debates on its impact on Bitcoin’s core values.
Traditional giants like Blackrock could control Bitcoin supply, impacting its future.
Optimists see Bitcoin’s integration with finance as a transformational opportunity.

The recent approval of a spot Bitcoin ETF has ignited discussions about the future of Bitcoin and its potential transformation at the hands of traditional financial institutions. While some see it as a historic moment, others fear it marks a departure from Bitcoin’s original ethos.

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Bitcoin, often championed as ‘the people’s money’ by cypherpunk enthusiasts, has faced a crossroads with the ETF approval. Critics argue that the allure of massive profits in fiat currency might undermine its core principles. As Bitcoin’s value soars, the concern is that most holders will succumb to the temptation to sell.

Large financial players like Blackrock and Fidelity, who are set to manage significant BTC supplies through their ETFs, could further shape Bitcoin’s destiny. With substantial cash reserves, they could absorb available coins over the next decade. Bitcoin’s unique properties make it an ideal collateral, potentially enabling the creation of innovative financial instruments.

In this changing landscape, borrowers may soon be able to secure fiat loans against their Bitcoin holdings, heralding a new era in finance. While many still hold a deep affection for Bitcoin’s core concept, some have come to terms with the reality that crypto may not overpower the world’s largest financial institutions.

TradFi Moves in on Bitcoin

The mass adoption of Bitcoin by traditional finance raises concerns about its future, with worries that it might undergo unwelcome changes. However, some optimists believe this integration could inadvertently transform the financial system for the better.

One post highlights how there is a legitimate concern among many bitcoiners. He states that the increasing ownership of Bitcoin by the traditional financial system will transform Bitcoin for the worse. In addition, he believes it’s just as likely this adoption will unintentionally transform the financial system for the better.

A response to this post says that nothing can change Bitcoin’s core. Instead, Bitcoin’s core will change everything. In response to that iconic statement, another Bitcoin enthusiast states what the community could consider as its Rule 1. This is to not sell your Bitcoin to BlackRock.

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Lauren Cole

A focused and vigilant storyteller for all things blockchain and cryptocurrency. Besides consuming every piece of literature about the metaverse, she can often be found at industry convections looking for the latest scoop.