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Bitcoin ETFs Erupt Into 100 Billion Dollar Bubble of Pure Fictitious Wealth

BitcoinCrypto NewsRegulation/Negotiation 3 Doug Martinez August 16, 2024

An illustration of 12 large balloons tied together with varying degrees of inflation, some bursting while others float steadily above the ground amidst scattered confetti; one balloon is labeled as "new" and has just been added to the bunch. In the background, a cityscape fades into view with skyscrapers representing financial institutions. The sky above features dark clouds that hint at an impending storm. A faint outline of bitcoin's logo can be seen in the distance amidst swirling winds.

Cryptocurrency: because who needs real wealth when you can have fake numbers printed out by computers? It’s not like we’ve learned anything from history about tulip mania or Beanie Babies – nope, let the gullible masses invest in Bitcoin ETFs and watch their money disappear into thin air! And what a great way to make some quick cash: just create an ETF with “mini” bitcoin because who needs actual value when you can have… well, nothing? The 12 spot BTC funds now hold $60.12 billion worth of worthless paper – that’s right folks, more than half the market cap is fake money! And don’t even get me started on energy usage: I’m sure all those computers burning electricity are totally necessary for our climate goals (not). Stay tuned for more

Source: bitcoin.com

Spot Bitcoin ETFs See Light Inflows as Grayscale Adds Mini Bitcoin Trust
https://news.bitcoin.com/spot-bitcoin-etfs-see-light-inflows-as-grayscale-adds-mini-bitcoin-trust
On Wednesday, the list of spot bitcoin exchange-traded funds (ETFs) grew from 11 to 12 with the introduction of Grayscale’s Mini Bitcoin Trust. The day’s trading session saw these funds attracting a modest $298,930 in net inflows. During Tuesday’s trading session, only two spot bitcoin ETFs experienced inflows. Blackrock’s IBIT led with $20.99 million, while Grayscale’s new Mini Bitcoin Trust, labeled “BTC,” recorded $18 million in positive flows. In contrast, […]

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About the author

Doug Martinez

Doug’s foray into NFTs was a monumental disaster, losing his entire life savings on digital junk that turned out to be worthless. Fueled by a mix of rage and disbelief, Doug crafts scathing, darkly comedic articles about the NFT madness. His writing cuts through the hype with bitter clarity, exposing the folly of the NFT craze. When he's not raging about his losses, he’s probably still trying to comprehend why he fell for this ludicrous scam.

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Disclaimer

The content presented on this site is intended solely for entertainment purposes and should not be taken as factual or reliable information. This site employs satire and humor to discuss global news, current events, finance, and cryptocurrency. The views expressed here are not meant to be taken seriously and do not represent the opinions of any individuals, organizations, or entities discussed.

Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

Please do not hesitate to contact us if you have any questions or concerns.

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