TL;DR
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CoinTelegraph’s (now deleted) tweet from just a few days again falsely introduced the approval of BlackRock’s spot Bitcoin ETF.
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This reveals: There’s a HUGE quantity of pent up demand for a Bitcoin spot ETF.
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A lot so, {that a} single false tweet can add ~$23B to the market cap of Bitcoin, in a matter of hours.
Full Story
Generally actions have a transparent message behind them.
For instance, when mother hid dad’s fedora assortment, the message was clear: “Sufficient with the humorous lookin’ headgear, I do not need you sporting them anymore.”
Whereas, at different instances, the message is missed all collectively…
Take for instance: CoinTelegraph’s (now deleted) tweet from just a few days again, that falsely introduced the approval of BlackRock’s spot Bitcoin ETF.
The main target was on the motion itself.
Particularly, the truth that CoinTelegraph – a serious crypto information publication – tweeted the declare with out citing any supply, and spiked the Bitcoin worth.
However dig somewhat deeper and the message behind all of it turns into clear:
There’s a HUGE quantity of pent up demand for a Bitcoin spot ETF.
A lot so, {that a} single false tweet can add ~$23B to the market cap of Bitcoin, in a matter of hours.
Certain, the entire thing was a false begin – BUT!
This means that if/when a spot BTC ETF is authorised, there are many deep pocketed buyers sitting on the sidelines, ready to pour money into Bitcoin.
(Good!)
P.S. Are you able to guess when the tweet went out?
