AceVentures
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Isn’t there a possibility that many people will invest retirement funds once this is launched (potentially many billions of dollars), thus increasing the market cap and along with it the price going up?
If that (somewhat likely scenario) happens won’t that increase the price? Or am I completely wrong on and missing how all this works?
Yes there is a possibility.
"My dad is exactly one of those retirees, who did this 2020. It took him 15 DAYS to get the Bitcoin, not 15 seconds. He tried Coinbase, failed KYC because they couldn't verify his address. Tried another exchange, but there was problems with the State of NY at that time.
He finally got on board with Gemini, but his general feeling was "Something this hard will never work".
Bitcoiners underestimate that the process of getting signed up Coinbase itself is beyond the attention span of most boomers. Absolutely forget non-custodial wallets, seed phrases, plates, multisig or any of that."
The scenario this guy presents in his story isn't the norm imo. Couldn't verify address? Why? There are dozens and dozens of ways of getting your hands on BTC. The uber driver has a dashboard of information about his coin collection like Bruce Wayne would in his batcave. I don't think "boomers" are too dumb with too little of an attention-span to buy BTC.
My point is that if you want exposure to BTC you can find it in 2023. This isn't 2012. Everybody and their mother knows what a BTC is.
I'm not saying there isn't more money that can flow into this asset class. I'm just saying it's less likely that it's the ETF that's holding back funds from getting exposure to BTC and more likely that it's the market psychology that creates this narrative of an internet-dumb boomer that explains the hype around the ETF.
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