Andreas Antonopoulos bursts Bitcoin ETF bubble calling it a “terrible idea”

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August 20, 2018 by
Andreas Antonopoulos bursts Bitcoin ETF bubble calling it a “terrible idea”

“I’m mosting likely to rupture your bubble,” this is how Andreas M. Antonopoulos, a significant Bitcoin lover, described Bitcoin ETF. He felt that his description would make numerous crypto fanatics interested in the Bitcoin ETF take their go back as it is a “awful suggestion”.

” I understand a lot of people really intend to see an ETF occur because “to the moon as well as lambos!” However I think it is a dreadful suggestion. I still think it is going to take place, I just think it is a terrible concept. I’m actually versus ETFs. I think a Bitcoin ETF is mosting likely to be harming to the ecosystem,” he claimed.

Bitcoin ETF can control prices
Concerning Bitcoin ETF’s capability of bring in substantial amount of direct exposure, its introduction has actually given rise to expectations. It has also seen a surge in rates as well as trading volumes once it has actually been accepted.

ETFs could open up the Bitcoin market to a group of institutional financiers as well as can likewise provide a platform for large financiers to adjust the cost of Bitcoin (BTC). Antonopoulos in his YouTube video series, ‘Bitcoin Q&A’, he said: “Everybody is so ecstatic about ETFs. Just what we have seen in other markets is that when an ETF becomes available, the rate truly increases considerably, as suddenly that product becomes available to a lot more investors and these capitalists overdo.

” However, the other side of it, is that there are constantly these claims that the products markets are heavily manipulated and also opening up these ETFs only increase the capacity of institutional capitalists to manipulate the costs of commodities.”

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