Profile picture
Jon Stokes @jonst0kes
, 6 tweets, 1 min read Read on Twitter
With the exception of "I'm here for the tech" all of these are familiar from the bubble years for gold at the start of this decade.
It's fascinating to me that so much programmer effort and tech has gone into recreating the gold bubble, and the commodities bubble from a few years before that.
Actually I should note, both those previous bubbles had a "tech" component in the form of ETFs that created demand on the long side. Everyone knows this, and I think the crypto nerds expect that if the bitcoin ETF happens it's gonna be nuts (again) for a while. HOWEVER...
...you /need/ an ETF to have the scale of hot money inflows into commodities that we saw in those bubbles. Normal people can't speculate in gold or other physical stuff without specialized contracts and/or storage access and so on. Not true for crypto.
It could be that an ETF would mean more institutional hot money into crypto, but I'm not even sure about that. I think it's just as possible that there would be a run-up as the announcement gets near, and a sell-off after it's public.
In other words, I don't think it's guaranteed that a crypto ETF means "moon" the way the commodity ETFs did.
Missing some Tweet in this thread?
You can try to force a refresh.

Like this thread? Get email updates or save it to PDF!

Subscribe to Jon Stokes
Profile picture

Get real-time email alerts when new unrolls are available from this author!

This content may be removed anytime!

Twitter may remove this content at anytime, convert it as a PDF, save and print for later use!

Try unrolling a thread yourself!

how to unroll video

1) Follow Thread Reader App on Twitter so you can easily mention us!

2) Go to a Twitter thread (series of Tweets by the same owner) and mention us with a keyword "unroll" @threadreaderapp unroll

You can practice here first or read more on our help page!

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just three indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member and get exclusive features!

Premium member ($3.00/month or $30.00/year)

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!