Can Wall Street Suppress The Price Of Bitcoin?

In this video, I discuss the role that "synthetic Bitcoin" or "Bitcoin IOUs" could play in the suppression of Bitcoin's price. Wall Street is very fond of printing up supply for financial products that are in demand, and it could easily do the same for Bitcoin, thus pushing the effective supply of "Bitcoin" over 21 million coins.

We need to educate people about "Not your keys, not your coins."

If you buy Robinhood BTC or GBTC, or if you hold your Bitcoin on an exchange like Coinbase or Gemini, you are not holding your own private keys, and so you don't really own your Bitcoin. Your "Bitcoin" may be fact turn out to be an IOU that is not actually backed by any real Bitcoin.

I think that everyone should withdraw their Bitcoin from the exchanges and hold it on a hardware wallet like a Trezor or ColdCard wallet. If enough people do this, there could be a huge Bitcoin short squeeze as exchanges rush out to buy real Bitcoin to fulfill the withdrawal requests. It will also decrease demand for synthetic Bitcoin.

Not investment advice! Consult a financial adviser.

Run a full Bitcoin node:
https://bitcoin.org/en/bitcoin-core/features/validation

https://medium.com/@peterjd42/basic-commands-to-interact-with-the-bitcoin-core-rpc-console-180da2c2dc45

My favorite Bitcoin dashboard:
https://bitcoin.clarkmoody.com/dashboard/

Annual proof of keys celebration:
https://www.proofofkeys.com/

Matthew Kratter is the author of the Amazon best-seller "A Beginner's Guide to the Stock Market":
https://www.amazon.com/Beginners-Guide-Stock-Market-Everything-ebook/dp/B07S31TBF5

If you like my teaching style and would like to learn more about investing and trading stocks, options, and futures, be sure to check out my online courses here:
https://www.trader.university/join

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#Bitcoin
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