Bitcoin Magazine Urges: Do Not Sell Your Bitcoin to Wall Street! Let Them Pay a Fortune for BTC

David Bailey, CEO of Bitcoin Magazine, has released a series of tweets urging all Bitcoin investors not to sell their Bitcoin to Wall Street giants and to make them pay a high price to acquire these Bitcoins. Yesterday, all 11 spot ETF applicants, including BlackRock and Fidelity, submitted their final amended 19b-4 documents before Friday, indicating that the cryptocurrency market is about to witness a historic moment with the approval of a Bitcoin spot ETF. Assuming the approval of the Bitcoin spot ETF, it is expected that institutional funds will enter the market to buy Bitcoin, further driving up its price. Currently, spot ETFs undergoing SEC approval are explicitly required to adopt a “cash creation/redemption model.” Under this model, authorized participants (APs) would use cash to create or redeem shares of the Bitcoin spot ETF. This means that authorized participants will provide cash to the ETF fund, and fund managers from major institutions will use this cash to purchase Bitcoin. As the crucial moment approaches, David Bailey, CEO of Bitcoin Magazine, tweeted today urging all Bitcoin investors not to sell their Bitcoin to Wall Street giants and to make them pay a high price to acquire these Bitcoins. David Bailey later tweeted again, stating, “If you want to make money, you should buy Bitcoin!” These series of tweets also demonstrate the belief of long-term Bitcoin holders in the true value of Bitcoin.