The post TradFi’s Spot Bitcoin ETF Could Spell Doom for Bitcoin appeared first on Coinpedia Fintech News
BitMEX co-founder Arthur Hayes has issued a stark warning: the success of traditional finance (TradFi) firms like BlackRock in launching a spot Bitcoin ETF could lead to Bitcoin’s downfall. His insights, articulated in a new blog post released today, paint a potentially bleak future for the world’s foremost cryptocurrency.
Hayes argues that the very essence of Bitcoin, which separates money and finance from state control, is at risk. He points to the potential dominance of Bitcoin ETFs, managed by traditional asset managers, as a direct threat to the decentralized nature of Bitcoin.
“Imagine a scenario where you bury gold and paper in a hole and return after a century – they would still exist. Bitcoin, however, thrives on movement. It’s the first monetary asset that ceases to exist if it stops moving.” – Arthur Hayes
BlackRock’s Bitcoin Strategy
Hayes highlights Bl
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