TL; DR
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Cointelegraph’s (now deleted) tweet from a few days ago incorrectly 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 fake tweet can add ~$23 billion to Bitcoin’s market cap in a matter of hours.
Full story
Sometimes actions have a clear message.
For example, when Mom hid Dad’s fedora collection, the message was clear: “Enough with the funny headgear, I don’t want you wearing them anymore.”
While at other times the message is completely missed…
Take for example: Cointelegraph’s (now deleted) tweet from a few days ago, which falsely announced the approval of BlackRock’s spot Bitcoin ETF.
The focus was on the action itself.
Notably, the fact that Cointelegraph – a major crypto news publication – tweeted the claim without citing any source, sending the Bitcoin price soaring.
But dig a little deeper and the message behind it becomes clear:
There is a HUGE amount of pent-up demand for a Bitcoin spot ETF.
So much so that a single fake tweet can add ~$23 billion to Bitcoin’s market cap in a matter of hours.
Sure, it was all a false start – BUT!
This indicates that if/when a spot BTC ETF is approved, there will be plenty of deep-pocketed investors waiting on the sidelines to put money into Bitcoin.
(Nice!)
PS Can you guess when the tweet went out?
