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 going to burst your bubble,” this is how Andreas M. Antonopoulos, a major Bitcoin lover, described Bitcoin ETF. He was of the opinion that his description would make a number of crypto lovers interested in the Bitcoin ETF take their steps back as it is a “horrible concept”.

” I understand a great deal of people actually want to see an ETF happen since “to the moon and also lambos!” Yet I think it is an awful idea. I still think it is mosting likely to take place, I just think it is a terrible idea. I’m really versus ETFs. I assume a Bitcoin ETF is going to be damaging to the ecosystem,” he claimed.

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Bitcoin ETF can manipulate prices

Relating To Bitcoin ETF’s ability of bring in substantial amount of direct exposure, its introduction has generated expectations. It has also seen a surge in prices and trading quantities once it has actually been approved.

ETFs can open up the Bitcoin market to a group of institutional investors and also could additionally provide a system for large investors to adjust the cost of Bitcoin (BTC). Antonopoulos in his YouTube video clip series, ‘Bitcoin Q&A’, he said: “Everyone is so ecstatic about ETFs. Exactly what we have seen in various other markets is that when an ETF becomes available, the price really boosts drastically, as all of a sudden that product becomes available to a great deal a lot more investors and also these financiers overdo.

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” Yet, the other side of it, is that there are constantly these claims that the assets markets are heavily controlled and also opening these ETFs just enhance the ability of institutional financiers to control the costs of products.”

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