Posted 12/24/2023, 12:45:24 PM
Arthur Hayes Warns BlackRock Bitcoin ETF Could 'Destroy' Network if Too Successful
- Bitcoin price has surged in 2022, recently hitting $45K before dropping back
- Legendary trader Arthur Hayes predicts BlackRock's potential bitcoin spot ETF could "completely destroy bitcoin" if too successful
- Hayes argues BlackRock could vacuum up all available bitcoin, leaving none for transactions and disabling miners
- This could kill bitcoin network and open door for another crypto to take its place
- Leak shows BlackRock bitcoin spot ETF could launch Jan 3 with $10M seed funding, fueling expectations of SEC approval in early 2024