Our trio of dental crypto enthusiasts, including our returning co-host Parth Patel, delve into the current bullish sentiment in the crypto space. Austin brings up the intriguing observation that while the crypto sector experienced dips and negative narratives in the past year, Bitcoin has emerged as one of the best-performing assets in 2023, touching the $35,000 mark.
Parth highlights the significance of Wall Street's growing interest in the crypto arena, especially with the anticipation of a Bitcoin ETF. This shift offers Wall Street a sustainable business model, allowing them to profitably sell the product of crypto. However, not everything is rosy. The group discusses the irony of Bitcoin's origin as a response to Wall Street's mismanagement of funds and how it's now being advocated for by those very entities. Furthermore, concerns about the actual mechanics behind the ETFs are addressed, particularly if they'll be backed one-to-one by Bitcoin or merely represent 'paper Bitcoin'.
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