I'm the least surprised because bitcoin is gradually succeeding globally and everyone wants to be a part. Chicago Mercantile Exchange decision to lunch bitcoin futures is laudable and it will create and expand the bitcoin market in Chicago and around the world.
There's already a market for bitcoin around the world, in case you hadn't noticed. I'm not sure
what the CME deal is going to do for crypto. You hear all of these silver stackers complaining about
the futures market for silver being manipulated by the paper silver traders all the time. I hope we don't
suddenly get an influx of conspiracy theorists saying that the CME bitcoin futures market is screwing
with the price. Could happen, right? When you start making a market in bitcoin where all of the bitcoin
in the world and more is traded daily, bad things can happen. But as of now, I'm not sure what to
think. I think it's good that bitcoin is getting more recognition than ever, and I'm pretty sure we're in
a bull market that's going to take a lot to stop. We've already suffered through countries trying to ban
it, exchanges that have scammed thousands of people, forks, and tons of other events that would have
ruined a weaker asset.
Having blabbed all of that, I'm waiting for a massive correction any day now.
Are you worried that this could end up inflating Bitcoin just like futures did to commodities?
This is what I'm talking about. Glad someone gets it. Inflating or crashing the price.
