It has been quite entertaining watching all of Wall Street go from calling bitcoin “worthless” an “index of money laundering” the “very definition of a bubble” or “rat poison squared” to proudly announcing their expansion of support for the asset and financial services around the space. Wall Street is infested with opinionless suits. They do not understand bitcoin, they understand fees, and their clients are demanding access to bitcoin, which they will charge fees for. Do not mistake forced capitulation for support. Bitcoin succeeds despite Wall Street, not because of it. Remember, if you can buy and hold in self custody an asset that outperforms all their rent seeking, high risk, high fee investment vehicles, then they’re out of a job eventually.

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