Bitcoin ETF Inflows Have 30x Larger Impact Than the Halving, According to BTC OG Adam Back – Here’s Why
Adam Back, the CEO of Blockstream and an early Bitcoin investor, believes that the inflows from a Bitcoin exchange-traded fund (ETF) will have a massive impact on the leading cryptocurrency. He argues that the effect of ETF inflows will be 30 times larger than that of the upcoming BTC halving scheduled for April 18th. Back points out that traditional finance investors often follow momentum buying strategies, where they buy more as the price goes up due to smart-money activity. He also notes that BTC’s fundamentals are currently strong and that ETF volumes are growing, indicating new investor interest.
Back suggests that recent price declines in Bitcoin may be driven more by fear, uncertainty, and doubt (FUD) rather than structural net selling. He believes there are no significant net sellers left and that people who sell in fear hoping to buy at lower prices often mistime their moves and end up buying back at higher prices. At the time of writing, Bitcoin is trading at $39,248.
Hot Take: ETF Inflows Will Fuel Bitcoin’s Bull Market
According to Adam Back, CEO of Blockstream and a prominent figure in the Bitcoin community, the impact of Bitcoin exchange-traded fund (ETF) inflows will far surpass that of the upcoming halving event. Back asserts that momentum buying by traditional finance investors, driven by smart-money activity, will drive up Bitcoin’s price significantly. He also highlights the strong fundamentals of BTC and the growing interest in ETFs among new investors. Back dismisses recent price declines as fear-driven rather than indicative of structural net selling. Instead, he believes weak hands often mistime their moves and end up buying back at higher prices. With Bitcoin currently trading at $39,248, Back’s bullish outlook suggests that ETF inflows will play a crucial role in fueling the ongoing bull market.
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