Fidelity Wise Origin Bitcoin Fund (FBTC)

⚠️ The Bearish Reality: How These Bitcoin Risks Are Already Here
1. Regulatory pressure isn’t a future threat — it’s happening now
Governments have already shown their hand:

The U.S. has sued major exchanges

Europe is tightening AML rules

China banned mining outright

Stablecoins are under scrutiny everywhere

Bitcoin doesn’t need to be banned to suffer.
It just needs to be regulated into illiquidity.
And that process is already underway.

2. Liquidity cracks are visible across the ecosystem
We’ve already seen:

FTX collapse

Celsius collapse

BlockFi collapse

Voyager collapse

Multiple stablecoins depeg

Every time one of these dominoes falls, it exposes how fragile the liquidity structure really is.
Bitcoin’s price depends on a healthy ecosystem — and that ecosystem has been bleeding out.

3. Protocol risks aren’t theoretical — they’ve happened before
Bitcoin has had:

Inflation bugs

Chain splits

Emergency patches

The only reason these didn’t become disasters is because the community reacted fast.
But the idea that Bitcoin is “untouchable code” is a myth.
It’s software — and software breaks.

4. Mining centralization is already dangerously high
A 51% attack doesn’t require a villain — it just requires centralization.

Right now:

A handful of mining pools control most of the hash rate

Mining is geographically concentrated

ASIC manufacturing is dominated by a few companies

This isn’t decentralization.
It’s a single point of failure wearing a decentralized mask.

5. Competition is real — and Bitcoin isn’t evolving
Bitcoin is:

slow

energy-intensive

limited in throughput

resistant to upgrades

Meanwhile:

Solana

Ethereum L2s

Avalanche

TON

even CBDCs

…are offering faster, cheaper, more flexible systems.

Bitcoin’s “store of value” narrative only works if people keep believing it.
Narratives can shift.

6. Energy politics are turning hostile
Countries are:

taxing mining

restricting mining

banning mining

targeting energy-intensive industries

Bitcoin mining is an easy political target.
It consumes more energy than some nations.
That’s not a statistic politicians ignore.

7. Bitcoin behaves like a risk asset — not digital gold
Every major macro shock has shown the same pattern:

Bitcoin falls harder than equities

Bitcoin falls faster than tech stocks

Bitcoin correlates with liquidity cycles

If the world enters a deep recession, Bitcoin is not the safe haven people imagine.
It’s one of the first assets to get sold.

8. Trust in the crypto ecosystem has been severely damaged
Bitcoin may be separate from the scams — but the public doesn’t see it that way.

After:

FTX

Terra/LUNA

Celsius

3AC

countless rug pulls

…the average person sees crypto as a minefield.
Bitcoin’s reputation is tied to the industry’s reputation, whether it likes it or not.

9. Quantum computing risk is no longer science fiction
Major tech companies are:

publishing quantum breakthroughs

increasing qubit counts

improving error correction

Bitcoin can upgrade its cryptography — but the transition would be messy, political, and slow.
And Bitcoin is famously resistant to change.

10. Whale concentration is a real structural weakness
A small number of wallets control a massive portion of supply.

If:

early holders

institutions

custodians

exchanges

…decide to rotate out, the market cannot absorb that selling pressure.

Bitcoin’s decentralization doesn’t apply to ownership.
It’s top-heavy — and that’s a real risk. $FBTC

Dear Fidelity,

Move your customers into treasuries...

Nice day

$FBTC - I just keep adding.

I only own FBTC, so I am okay with it. But, I guess a change to be inclusive for all ETFs would be better and will bring more traffic.

I looked into IBIT too. Their fees are higher than FBTC.

Just FYI, the fees for FBTC kicks in on 8/2024. I have been slowing accumulating FBTC when I can in my ROTH IRA.

Bitcoin Has 6 Months Until ETF "Liquidity Crisis"

Ki: Bitcoin bears “can’t win” while ETF flows continue

Bitcoin as an institutional investment allocation is only just getting started, industry participants have said, as United States-based spot Bitcoin exchange-traded funds (ETFs) gain momentum.

Now holding nearly $30 billion, they have become the most successful ETF launch in history.

Mar 14, 2024
https://www.zerohedge.com/crypto/bitcoin-has-6-months-until-etf-liquidity-crisis

https://cms.zerohedge.com/s3/files/inline-images/bitcoin%20holdings.jpg?itok=OEw9bcvD

https://finance.yahoo.com/news/ibit-nears-200k-bitcoins-latest-120000649.html?fr=sycsrp_catchall

Agreed

The board symbol needs to be changed. It is FBTC