Friday, 19 February 2021

Bitcoin ETF will change everything

My boomer parents just bought close to a full bitcoin through the new canadian bitcoin etf that started trading today. They would never have bought any if it wasn't for the etf. What a great way for everyday investors to buy bitcoin and not have to worry about exchange fees, wallets, keys, custody, etc. Not only for retail investors but also companies, pension funds etc.

The fact that people can now hold it long term in tax saving accounts and retirement plans is amazing and will truly change everything. In fact, any new buys will probably be through the etf personally.

I know a lot of people here lean to the libertarian side (myself included) and will state, "not your keys, not your coins", but honestly, 99% of people are going to buy to hedge against inflation and invest in this new finance instrument and aren't trying to screw central banks.

Just my 2 sats, once a bitcoin etf opens in the US, you will want to make sure you bought some before that happens.

submitted by /u/erangalang
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