Every Bitcoin Bull Market has a Financial Engineering Story:
- The 2017 Bull was partly due to founders and exchanges leveraging demand for Alt Coin ICOs into hard money BTC.
- The 2020 Bull was largely due to GBTC and MSTR hacking a world without ETFs. (GBTC with the 3AC flywheel, and MSTR with the conv. debt arb)
- The 2024 Bull is entirely ETF driven.
Each of these Financial engineering feats tapped into an order of magnitude more money. The ETF movement is still just scratching the surface. Institutions and Advisors are now entering the arena.
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