pull down to refresh
1568 sats \ 2 replies \ @Ribbit 5 Oct 2023 \ on: Blackrock's gameplan bitcoin
If Bitcoin can't survive Blackrock, it can't survive any other large person or group coordinating a pump and dump fork.
Better to find out now.
It was built to withstand STATE level attacks like this, let alone a company.
More specifically, Blackrocks fork clause is intended to be upfront with ]nvestors, not a game plan for taking over bitcoin.
It's like asking, what happens if the group of whales and institutions who own btc now, coordinate to fork bitcoin and bring on a kyc version ?
Why don't or can't states ? If they did what would we do. Same thing for your BR scenario
When people talk about a BR etf increasing bitcoins price, they mean because it will increase demand and give legalized access to boomers who can't figure out a wallet. Large family holdings and institutions and wealth funds can have exposure too.
They do not mean blackrock will be focusing all of its resources on bitcoin. It's just another industry sector to these financial types. It's not ideological. They are Number go up bro's.
I disagree. Blackrock has definitely been an ideological entity (e.g. esg) before. Also, bitcoinay be seen as a thing that could weaken its other (larger) investments, such as investments in traditional banks. If spending 5 billion saves your 600billion stake, does it make sense to spend it?
reply
Perhaps, Esg is just cover for technocracy, but the reason they have to do that is because they are running out of money.
reply