All the rugs last time, and tether is still doing fine πŸ”₯
There are many reasons Elon Musk will never fully embrace bitcoin, but perhaps two of the most obvious: 1) He is a narcissist and unable to accept that something so grand was not only created by somebody other than himself, but because he was so late to understand the broader implications of a bitcoin standard. Bitcoin is bigger than Elon. He will be humbled, but never admit his mistake. 2) His companies are dependent on the fiat standard. When we talk about the "cantillon effect;" he and his business ventures have always been first in line for the free, easy money. He thrives on the fiat standard.
image
If the bitcoin ETF doesn’t control the private key for the sats under management, it’s a double kill. You don’t own the key and Neither do they.
This is a scam, right? image