BitnewsToday on Nostr: How BlackRock's Dominance Could Become Dangerous for Bitcoin 🚨 BlackRock manages ...
How BlackRock's Dominance Could Become Dangerous for Bitcoin 🚨
BlackRock manages over 316,000 BTC with its Bitcoin ETF. The dominance of this U.S. financial giant is steadily increasing. Is this concentration a threat to Bitcoin? 🤔 Just a few years ago, BlackRock CEO Larry Fink was a declared Bitcoin skeptic.
However, the man at the helm of the world's largest asset manager has changed his mind. Once regarding Bitcoin merely as a tool for money laundering, he now views the cryptocurrency as "digital gold" and refers to it as a "safe haven" 🛡️.
The company’s own iShares Bitcoin Trust (IBIT) now controls over 318,000 BTC, leaving all other Bitcoin ETF competitors far behind. BlackRock's market share continues to rise and no one seems able to stop the U.S. financial behemoth. What does this concentration of economic power mean for Bitcoin?
This rising control brings several concerns. Firstly, the centralization of Bitcoin holdings contradicts the decentralized ethos originally championed by Bitcoin 🔄.
Such control by a single entity could lead to market manipulation, where the actions of one firm could significantly influence Bitcoin's price 📉.
Furthermore, BlackRock's position could also lead to regulatory scrutiny. Governments worldwide might perceive the concentration of Bitcoin under a corporate umbrella as a potential threat to fiscal policies or even financial stability 🌐.
This could prompt stricter regulations which might stifle the growth and innovation in the cryptocurrency sector 💼.
#bitcoin #hedgefond #crypto #invest #bitnewstoday
Published at
2024-07-17 08:26:27Event JSON
{
"id": "7476c7a2542193d0b2685dc1b58633d7708cb1d171397e9d89c6afb927909be8",
"pubkey": "36bf46f8b0aa60986d225a8cbff6b224517054341cdf0470b8db5b6b5a828990",
"created_at": 1721204787,
"kind": 1,
"tags": [
[
"t",
"bitcoin"
],
[
"t",
"hedgefond"
],
[
"t",
"crypto"
],
[
"t",
"invest"
],
[
"t",
"bitnewstoday"
]
],
"content": "How BlackRock's Dominance Could Become Dangerous for Bitcoin 🚨\n\nBlackRock manages over 316,000 BTC with its Bitcoin ETF. The dominance of this U.S. financial giant is steadily increasing. Is this concentration a threat to Bitcoin? 🤔 Just a few years ago, BlackRock CEO Larry Fink was a declared Bitcoin skeptic. \n\nhttps://m.primal.net/JTmZ.webp \nHowever, the man at the helm of the world's largest asset manager has changed his mind. Once regarding Bitcoin merely as a tool for money laundering, he now views the cryptocurrency as \"digital gold\" and refers to it as a \"safe haven\" 🛡️. \n\nThe company’s own iShares Bitcoin Trust (IBIT) now controls over 318,000 BTC, leaving all other Bitcoin ETF competitors far behind. BlackRock's market share continues to rise and no one seems able to stop the U.S. financial behemoth. What does this concentration of economic power mean for Bitcoin?\n\nThis rising control brings several concerns. Firstly, the centralization of Bitcoin holdings contradicts the decentralized ethos originally championed by Bitcoin 🔄. \n\nSuch control by a single entity could lead to market manipulation, where the actions of one firm could significantly influence Bitcoin's price 📉. \n\nFurthermore, BlackRock's position could also lead to regulatory scrutiny. Governments worldwide might perceive the concentration of Bitcoin under a corporate umbrella as a potential threat to fiscal policies or even financial stability 🌐. \n\nThis could prompt stricter regulations which might stifle the growth and innovation in the cryptocurrency sector 💼.\n\n#bitcoin #hedgefond #crypto #invest #bitnewstoday",
"sig": "64b0f2581ecfa97a66eed3b3779ecb9625233ad992c32d7b552bf5fdeccef6c5e99c33acadd5c0ebdfd2595cea178a00cd034334c1227a49ac528a2f2360ebc0"
}
