JustaPleb on Nostr: Loan ETFs BTC to MM/OTC desks & rebuy those BTC back from MM/OTC - reloan them again ...
Loan ETFs BTC to MM/OTC desks & rebuy those BTC back from MM/OTC - reloan them again & again 🔄 earning loan fees and AMF i.e their ETF is backed by PAPER BTC loan contracts rather than physical bitcoin.
Rince & repeat until GBTC is stripped of it's 550K BTC!
This would bypass the spot market it wouldn't drive the price higher.
Published at
2024-01-23 20:56:32Event JSON
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"created_at": 1706043392,
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"tags": [],
"content": "Loan ETFs BTC to MM/OTC desks \u0026 rebuy those BTC back from MM/OTC - reloan them again \u0026 again 🔄 earning loan fees and AMF i.e their ETF is backed by PAPER BTC loan contracts rather than physical bitcoin.\n\nRince \u0026 repeat until GBTC is stripped of it's 550K BTC!\n\nThis would bypass the spot market it wouldn't drive the price higher.\n\nhttps://m.primal.net/HYvL.png",
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