- Last month saw significant interest in the recently launched spot Bitcoin ETFs, with a notable amount of inflow.
- Bianco, on a podcast, stated that Bitcoin ETFs only serve to bring Bitcoin into the existing financial system.
- Max Keiser criticizes Jim’s narrow perspective on Bitcoin ETFs, arguing that they do not change the tragedy of BTC.
Bitcoin Maximalist Max Keiser makes striking claims about spot Bitcoin ETFs: Bitcoin ETFs have no impact!
Keiser makes Bold Statements on Spot Bitcoin ETFs
Last month witnessed significant interest in the recently launched spot Bitcoin ETFs, resulting in a substantial amount of inflow. However, market expert Jim Bianco referred to Bitcoin ETFs as a “massive mistake” in a podcast with Natalie Brunell on February 18th.
Bianco mentioned on the podcast that the only thing Bitcoin ETFs do is bring Bitcoin into the current financial system. He added that spot Bitcoin ETFs take away the characteristic of being “Decentralized” from the asset class. In a statement on X platform on Sunday, Bianco expressed:
“I love the idea of an alternative financial system, a store of value, and a medium of exchange. However, this alternative system should NOT BE CENTRALIZED! So, what am I? I am a supporter of decentralization. A spot ETF, REPEATEDLY, is not decentralized! I am a big fan of BTC, ETF, and other NON-CENTRALIZED alternatives.”
Bianco added, “I am a BTC Hodler, holding this asset for over 7 years. I even took my wallet out to show how I hold it and stated that I don’t want to buy BTC ETF. If I were to add to my position, it would be in my wallet,” he added.
He also mentioned that, contrary to past popular suggestions by analysts like PlanB, BTC’s price will not reach $1 million.
Max Keiser Says BTC ETFs Have Zero Impact
Max Keiser criticizes Jim’s narrow view on Bitcoin ETFs, claiming that they do not alter the essence of BTC’s trajectory. Keiser rejects Jim’s views as a reflection of the traditional financial mindset adorned with surface-level BTC references and emphasizes the profound effects being played out.
Keiser claims that BTC fundamentally transforms individuals and is not subject to external influences. He also argues that Jim exaggerates the significance of his view, emphasizing that Bitcoin’s trajectory is unstoppable and disrupts the traditional relationship between money and the state. According to Keiser, Bitcoin ETFs have zero impact on this transformative process.
Last week, Bitcoin’s price experienced a rally, surpassing $52,000, and played around these levels with some volatility over the weekend. As of the time of writing, BTC is trading at $52,305, with a 1.01% increase, and the market cap is $1.023 trillion.
