Late Night Ramblings - Are the BTC ETF's putting Sell Pressure on Silver? 6.7B put into ETF;s

Been a great week for BTC -

Just a late night thought and rambling today. As I sit here with regret and remorse for my pitiful BTC stack and the fact that the pump has started much earlier in 2024 than I had prayed for as my finances were not yet position to start buying BTC in any measurable quantity I had a few random thoughts.

It clearly seems as if these BTC ETFs that were approved have significantly increased the scarcity and they are sucking up a ton of coins on the market. It looks like there was another 500 plus million put into the ETS today, that makes a total of 6.7 billion dollars so far. One of the Twitter posts I saw said that was over 10,000 BTC of net inflows just yesterday. That is an obscene amount of BTC being taken off the market but where is the money coming from

It seems to me that the demand is coming from accounts that had no other access, tax advantage accounts like roths, iras, 401ks that could not redistribute the capital to self-custody BTC without creating tax issues. This means that people are reallocating portion of their portfolios to BTC within these vehicles, but they must be selling something in order to get the capital. I'm wondering if there is a movement from the precious metals in portfolios into BTC since they both serve a similar role in many people's eyes of asset protection against inflation. If people are unloading the silver and gold ETFs to be able to buy the BTC ETFs then maybe it's going to drive down the price of silver in both the paper market and it didn't market.

Silver on Sale in 2024 after super high premiums for years.

It's in 2024 I have seen more silver sales than I have seen since the start of 2020. Well it used to be common for years to see silver deals at $0.49 to 99 cent over spot normal, once the whole world had a major hiccup and things fell off the rails it seemed as if the normal premiums were three to four dollars over spot to get a generic round. I have gotten half a dozen to a dozen emails already this year about silver sales with low premium generic silver again. Part of me is wondering if this is being driven by the rush to BTC where people are no longer stacking physical silver and or paper silver at the same rate and the supply is starting to build back up.

I personally hope that the supply does build up and we get back to a little premium silver, and I would even be okay if the price of silver fell a little bit so I could buy some more physical silver down the road. While I definitely want to own more btc, it's definitely more fun to buy ounces of silver and stack them than it is to buy a few satoshis and put them on a hardware wallet.

Either way the very interesting time for both precious metal stackers in BTC standards. Well everyone seems to have a lot of remorse right now given the price increase of this past month and everyone falling short of their stacking goals, I think they'll be a time for even this will seem cheap. If the demand continues and the scarcity of BTC for sale continues then if we go on the same trajectory many of us will be reminiscing about the days where we could buy it for 60k.

I have no idea what the future holds, no One does. But I hope they have good buying opportunities for both btc, and silver this year if I'm lucky enough to improve my personal finance situation enough to free up some capital.