Crypto Kid

🟢 BREAKING: Hong Kong’s financial regulator has published guidelines for the approval of BOTH “in-kind” and “cash creates” Spot #Bitcoin ETFs! 👇🧵

This is arguably MORE bullish than the US ETFs, as most of the volume in #crypto comes from the Asian markets.

And secondly, the approval of “in-kind” refers to the buyers being able to redeem the ETFs for the actual underlying asset of #Bitcoin

This will add to the fact that exchange reserves for $BTC are dropping, both long-term and short-term buyers are accumulating, and that after the halving, we will have much less #Bitcoin available per day in market.

In summary, supply will drop drastically and demand will inc.

All of these factors are incredibly bullish, and increase the probability of a super cycle in 2024!

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