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Because of forex reform and social frustration from a long time of repression and bureaucracy, there are once more shortages, blackouts, excessive inflation and protests. Díaz-Canel is no Fidel, and cannot put protests down with private charisma or a secret police operating in a world with no web. To place it bluntly; bearish shorters fuel bitcoin’s wild and violent upward movements. The common, forgetful operate of Bitcoin’s proof-of-work is the nice equalizer of the power market, putting to bed the popular however misconstrued environmental, social and company governance (ESG) narratives of the day. The approval of a spot ETF could carry trillions of dollars of inflow into the market, and despite the writings on the wall, many of those zeros will likely be deployed in short positions - bets against the appreciation of bitcoin versus the U.S. Much speak has been made this month on the futures market of bitcoin, with a groundbreaking paper ETF now multiple weeks in existence and a filing of a spot ETF from Grayscale with a presumed imminent approval by mid-December. As Bitcoin dematerializes the incentive construction of the petrodollar and turns into the final word unit of account, it leaves behind a wake of slain bears and doubters in the cryptographically-secure, and immediately-free financial market.
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