22 sats \ 4 replies \ @Hypnagog OP 4 Oct 2023 \ parent \ on: Blackrock's gameplan bitcoin
By? Their investors?
The terms say blackrock can choose which fork to support. Its there in black and white
then their investors will sell their blackrock etf shares meaning less shares on the market and btc must be redeemed from the trust to their "prime brokers"
prime brokers buy freedom
bitcoin from redeemed shares pumping freedom btc
shorts sell blackrock etf short as well
etf collapses and shorts use proceeds to buy freedom btc in the market
competing etf eclipses blackrock with freedom btc in it
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Why would institutional investors (banks , pension funds, etc etc) sell their shares if blackrock is following the KYC (read: can't be used for evil evil money laundering and all the darkweb things)? We are talking about capital to orders of magnitude much higher than the last blocksize wars here....
Also a very different clientele. You think etf investors will care about freedom?
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yes i do. they want a price proxy for btc. and freedom
btc will be worth more in the long term than non freedom btc
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Its all theoretical. However I do think the bitcoin community is underestimating the reach of institutional power.
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