{"id":8739,"date":"2023-12-25T12:58:26","date_gmt":"2023-12-25T12:58:26","guid":{"rendered":"https:\/\/coinengineer.io\/blog\/?p=8739"},"modified":"2024-03-27T10:38:20","modified_gmt":"2024-03-27T10:38:20","slug":"arthur-hayes-spot-bitcoin-etfs-threaten-bitcoin","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/arthur-hayes-spot-bitcoin-etfs-threaten-bitcoin\/","title":{"rendered":"Arthur Hayes: Spot Bitcoin ETFs Threaten Bitcoin"},"content":{"rendered":"

Leading figure in the cryptocurrency market<\/strong>, Arthur Hayes, has warned about potential threats to Bitcoin, highlighting issues with spot Bitcoin exchange-traded funds (ETF)<\/strong>. Hayes shared his concern that if Bitcoin ETFs were successful, it could lead to the complete elimination of Bitcoin.<\/p>\n

In a blog post published on December 23rd, Hayes claimed that Bitcoin’s value stems from its potential for movement. However, he pointed out that the purpose of spot Bitcoin ETFs<\/strong> is to \u201cvacuum up<\/strong>\u201d assets and to \u201cstore them in a metaphorical vault<\/strong>\u201d.<\/p>\n

You may be interested:\u00a0The Latest Status in Bitcoin and Cryptocurrencies! \u2013 December 25th<\/a><\/strong><\/p><\/blockquote>\n

If those issuing Bitcoin ETFs<\/strong> hold all the Bitcoin and investors turn to Bitcoin derivatives<\/strong>, he argues the number of transactions on the network will decrease and miners may lose motivation, leading to a potential death of the network.<\/p>\n

Hayes stated that \u201cif ETFs managed by traditional finance asset managers<\/strong> are very successful, they will completely destroy Bitcoin.\u201d In that case, he proposed that a new cryptocurrency network<\/strong> might take Bitcoin’s place and expand the financial system.<\/p>\n

Decisions related to approving anticipated spot Bitcoin ETF<\/strong> applications could trigger significant changes in the world of cryptocurrency. While major organizations wait for the SEC\u2019s decision<\/strong>, investors are called to be cautious about future scenarios.<\/p>\n

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Also, in the comment section, you can freely share your comments and opinions about the topic. Additionally, don\u2019t forget to follow us on\u00a0Telegram<\/strong><\/a>,\u00a0YouTube<\/strong><\/a>\u00a0and\u00a0Twitter<\/strong><\/a>\u00a0for the latest news and updates.<\/em><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Leading figure in the cryptocurrency market, Arthur Hayes, has warned about potential threats to Bitcoin, highlighting issues with spot Bitcoin exchange-traded funds (ETF). Hayes shared his concern that if Bitcoin ETFs were successful, it could lead to the complete elimination of Bitcoin. In a blog post published on December 23rd, Hayes claimed that Bitcoin’s value<\/p>\n","protected":false},"author":1,"featured_media":8738,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,2],"tags":[2545,3173,534,297,1662],"class_list":["post-8739","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-news","tag-arthur-hayes","tag-arthur-hayes-spot-bitcoin-etfs-threaten-bitcoin","tag-bitcoin-etf","tag-etf","tag-spot-bitcoin-etf"],"yoast_head":"\nArthur Hayes: Spot Bitcoin ETFs Threaten Bitcoin - Coin Engineer<\/title>\n<meta name=\"description\" content=\"Leading figure in the cryptocurrency market, Arthur Hayes, has warned about potential threats to Bitcoin, highlighting issues.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/arthur-hayes-spot-bitcoin-etfs-threaten-bitcoin\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Arthur Hayes: Spot Bitcoin ETFs Threaten Bitcoin - 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