ericfj on Nostr: It’s not just that… lots of folks largest account is their IRA which generally ...

It’s not just that… lots of folks largest account is their IRA which generally don’t allow holding BTC directly. Yes they want the exposure- they might also even WANT to hold their own keys, but the barrier is not just responsibility… it’s the huge procedural headache and the TIME is takes to get your IRA funds to someone like Unchained and set up a multi-sig vault. I’m going through it right now… meanwhile the price is rocketing. Luckily, I’m hedging price movement during the transfer with the remainder of my account (which I can actually easily do using these p.o.s. ETFs)- but most people cannot or will not think to do that. From start to finish it takes WEEKS to move these funds with all the bullshit forms and 2+ business day admin steps. Meanwhile, in a couple of clicks or a phone call they can buy the ETF. The level of commitment it takes to not just say “fuck it” requires someone to be truly, deeply, and ideologically orange pilled. This is not most people.

IRAs are a huge market… people check into these accounts very infrequently… the ETFs got approved basically yesterday in the grand scheme of things… we’re only getting started with boomer allocations- most will hear about the new all time high this week and make note to make the initial exploratory call to their broker, then set up a meeting when it’s convenient for them… slow and methodical like turning a fucking oil tanker… and yet they will turn

The flow has only just begun. Buckle the fuck up.