ETF it’s not that bullish. Yes there might be a price increase but you have to understand how Wall Street works. The majority of the money will not be purchasing real BTC, they will purchase paper BTC and IOUs. The ETF allows this. This is called rehypothication. This will bring huge liquidy and with that comes significantly less volatility. It will also heavily dilute the price relative to what it could’ve been if they bought physical BTC.
Gold has a 7 trillion market capitalisation and is extremely useful rare and has been a store of value for many many many years yet the price is only a thousand dollars per ounce. Shouldn’t logically be worth way more? It should but because they also rehypothicat gold, they are essentially purchasing fake gold receipts so that supply of gold is not removed from the market and price does Not drastically increase. Obviously it increases slightly as they have to own SOME gold but not as much as it would. They will try this with BTC. Pretty much a hundred people can have claim to the same BTC. 100x dilution. Public fomo on the other hand can push prices up to crazy levels because the public don’t care they just buy at any price and they buy off exchanges.
I will add however that the insidious ways that Wall Street work with fractional reserve banking won’t work with BTC as they can’t print more BTC to bail out the banks once the collateral gets too high. The Fed would have to physically purchase BTC which would seriously pump the price to bail out the banks. Who knows if and when this will happen could be 30 years from now. Remember, BTC was invented for the purpose of replacing the corrupt financial system that we have not to make moon boys Rich this is much bigger than that but good luck to everyone price is the incentive to study and learn about this potential revolution.
Sorry this is pretty long response I’m talking to my phone so it’s pretty easy ha ha.