The legacy financial system has arrived. One January 10th, numerous Bitcoin ETFs were approved. But is this even a good thing? What does this signal for the legitimacy of Bitcoin as an asset? What does it mean for the sovereignty of the network? This could both bring trillions of dollars in liquidity into Bitcoin and break through the Overton window of the average person. This may make bitcoin "real" for many who refused to pay attention before. But the big question... the real risk, is if we cannot scale sovereignty in Bitcoin to everyone in the world, what if we just end up with Gold 2.0? In a world of unbacked paper, and no way out?
It's time for a Guy's take episode. Are the ETFs the End of the Bitcoin Dream?

References

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