TL;DR
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CoinTelegraph’s (now deleted) tweet from a few days back falsely announced the approval of BlackRock’s spot Bitcoin ETF.
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This shows: There is a HUGE amount of pent up demand for a Bitcoin spot ETF.
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So much so, that a single false tweet can add ~$23B to the market cap of Bitcoin, in a matter of hours.
Full Story
Sometimes actions have a clear message behind them.
For example, when mom hid dad’s fedora collection, the message was clear: “Enough with the funny lookin’ headgear, I don’t want you wearing them anymore.”
While, at other times, the message is missed all together…
Take for example: CoinTelegraph’s (now deleted) tweet from a few days back, that falsely announced the approval of BlackRock’s spot Bitcoin ETF.
The focus was on the action itself.
Specifically, the fact that CoinTelegraph – a major crypto news publication – tweeted the claim without citing any source, and spiked the Bitcoin price.
But dig a little deeper and the message behind it all becomes clear:
There is a HUGE amount of pent up demand for a Bitcoin spot ETF.
So much so, that a single false tweet can add ~$23B to the market cap of Bitcoin, in a matter of hours.
Sure, the whole thing was a false start – BUT!
This indicates that if/when a spot BTC ETF is approved, there are plenty of deep pocketed investors sitting on the sidelines, waiting to pour cash into Bitcoin.
(Nice!)
P.S. Can you guess when the tweet went out?
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