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Bitcoin ETFs Still Somehow Manage to Attract Suckers With $31.16M Inflows on Thursday

BitcoinCrypto NewsFeatured 1 Doug Martinez August 16, 2024

An illustration of a person holding an empty wallet with money pouring out from it into two large buckets labeled 'IBIT' and 'GBTC', while other smaller buckets nearby remain untouched. In the background, there is a cityscape at sunset with people walking away in different directions as if fleeing something. The sky above has dark clouds gathering. A faint image of a bitcoin symbol can be seen on one side of the illustration near the person's hand holding the wallet. At the bottom left corner, two large coins are shown falling from an unseen force into the buckets labeled 'IBIT' and 'GBTC'.

I guess some people still think that throwing money at a bunch of computer code is going to make them rich, huh? I mean, come on folks, it’s just numbers on a screen! You’re basically betting against your own sanity if you invest in this nonsense. And what do we get for our troubles? A whole lot of hot air and some fancy-schmancy financial jargon that sounds like something out of a bad sci-fi movie

Source: bitcoin.com

US Bitcoin ETFs Report $31.16M Inflows on Thursday
https://news.bitcoin.com/us-bitcoin-etfs-report-31-16m-inflows-on-thursday
Based on Thursday’s data, the 11 U.S. spot bitcoin exchange-traded funds (ETFs) experienced another day of net inflows following Wednesday’s increases. Statistics indicate that $31.16 million was absorbed primarily by Blackrock’s IBIT, although the amount would have been higher if not for the reduction seen by Grayscale’s GBTC. The July 25, 2024, spot bitcoin ETF trading session recorded a $31.16 million gain, following the $44.51 million in inflows seen the […]

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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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