A crypto trader has presented a compelling argument concerning the future accessibility of Bitcoin, alleging that Wall Street is aiming to drive the price of BTC beyond the reach of the common investor.
BTC Accessibility Concerns
Crypto trading expert, Oliver L. Velez has recently taken to X (formerly Twitter) to release a post, claiming that Wall Street may be organizing a deliberate strategy to cut off Bitcoin’s accessibility to regular investors.
The crypto trader’s comments present an alarming scenario for Bitcoin investors‘ future. According to Velez, Wall Street, which has been showing increased interest in the crypto space lately, may be planning to extend its motives beyond conventional investment practices. This alleged maneuver could be aiming to create a barrier for everyday investors, potentially limiting their participation and freedom in the crypto market.
Using the overpriced Berkshire Hathaway (BRK.A) shares as a comparison, Velez pointed out that Bitcoin could experience a similar price surge, pushing it to levels where it becomes potentially unaffordable for the general public.
“Berkshire Hathaway (BRK.A) is trading at $554,300 a share. Its price is out of the reach of 99% of all human beings on Earth. You see, Warren Buffett never wanted his baby accessible to you, the masses,” Velez stated. “It was only for the elite, only for the privileged, only for those closest to the money printer. Making this too accessible to the masses might provide too much economic freedom to the wrong group of people.”
Velez alleges that Wall Street is using the same tactics it did with the Berkshire stock for BTC, especially as Spot Bitcoin ETFs are on the way. They are apparently going to drive the price of Bitcoin so high that the average investor would not be able to buy it.
The analyst also alludes to freedom as one of the major selling points of BTC to these Wall Street investors. So contrary to the belief that the Bitcoin price would crash, Velez expects that Wall Street will continue to drive the price of the cryptocurrency higher as a way to keep out the “riff-raff”.
BTC price rises to $44,200 | Source: BTCUSD on Tradingview.com
Spot Bitcoin ETF To Drive Scarcity
According to Oliver L. Velez, one of the major catalysts that could trigger Bitcoin’s inaccessibility is the launch of Spot Bitcoin ETFs. Velez asserts that the introduction of Spot Bitcoin ETFs could potentially propel the price of BTC to unprecedented heights, significantly impacting the cryptocurrency’s affordability and availability in the market.
The crypto trader’s insights suggest that ETFs may absorb a considerable portion of the circulating BTC, thereby restricting direct ownership of BTC to normal investors. Given this, the crypto expert believes that the time when smaller investors would be able to easily get in on BTC is shrinking.
“The window of opportunity to buy Bitcoin is closing, and exchanges will see a reduction in available Bitcoin as ETFs scoop it up. Owning Bitcoin directly will become increasingly difficult in the future, making it essential to secure Bitcoin now,” Velez warned.