NickGiambruno on Nostr: BlackRock, Bitcoin, and a Tsunami of Institutional Demand MicroStrategy Chairman ...

BlackRock, Bitcoin, and a Tsunami of Institutional Demand

MicroStrategy Chairman Michael Saylor recently said, “The window to front-run institutional demand for Bitcoin is closing.”

He’s absolutely correct.

BlackRock, Fidelity, Schwab, Citadel Securities, and other large institutions are making big moves into Bitcoin.

With nearly $10 trillion in assets under management, BlackRock is the world’s largest asset manager.

Larry Fink, the CEO of BlackRock, had a remarkable turnaround regarding his views of Bitcoin.

After years of dismissing and denigrating it, Fink recently called Bitcoin “an international asset” to hedge against currency debasement that could “digitize gold” and “revolutionize finance.”

BlackRock has filed for a spot Bitcoin ETF.

BlackRock has an ETF approval track record of 575-1, so it is probably a matter of time before their spot Bitcoin ETF is approved and potentially others. That would open the floodgates for certain large pools of capital—like traditional retirement accounts—that would be otherwise unable to buy Bitcoin.

Let me be clear. I am no fan of Fink, BlackRock, and the nefarious agendas they push.

Frankly, I’d like to see BlackRock go bankrupt and Fink clean toilets to earn a living.

However, it’s important to remember that Bitcoin is an apolitical, open, permissionless monetary network available to anyone and controlled by none. Nobody can be prevented from using Bitcoin.

Bitcoin is for everyone, including people you don’t like.

Some worry that BlackRock could change Bitcoin somehow, but that is unfounded.

Remember, nobody can change Bitcoin’s protocol—not even Elon Musk, Jeff Bezos, the Chinese government, the US government, or any of these powerful entities combined.

Even if Satoshi Nakamoto—Bitcoin’s anonymous cypherpunk creator—returned after disappearing in 2011, he could not alter Bitcoin.

The Blocksize Wars, which culminated in 2017, is proof.

That’s when an overwhelming majority of the Bitcoin miners (primarily based in China)—and other prominent insiders and large companies—tried to get together and change Bitcoin’s protocol to increase the block size.

Even though they represented most Bitcoin miners, some of the most powerful insiders, prominent influencers, and large corporations, their attempted hostile takeover was an abysmal and embarrassing failure.

Instead of forcing a destructive change in Bitcoin—as they desired—they just created an increasingly worthless knock-off known as Bitcoin Cash.

Recently, the market cap of Bitcoin Cash (BCH) was less than 1% of the real Bitcoin’s (BTC) and is trending towards 0%.

I wouldn’t worry too much about BlackRock trying to make an “ESG Bitcoin” or otherwise changing it.

Even if they were foolish enough to do so, I doubt it would be more successful than Bitcoin Cash.

Another worry about BlackRock is that they will manipulate the Bitcoin price by creating more claims on it than what actually exists.

They could sell some fake paper Bitcoin, but it would fail spectacularly and be self-destructive.

Suppose someone like BlackRock wants to manipulate the price of an asset by creating more claims on it than what actually exists.

Taking physical delivery of the underlying asset would be one way to reveal the fraud.

If there are more claims than actually exist, asking for physical delivery will reveal it because the delivery will fail.

Think of taking physical delivery like calling the manipulator’s bluff.

It’s challenging to take delivery of physical commodities traded on large exchanges, which opens the door to creating more claims than actually exist. It’s not easy to call their bluffs.

However, with Bitcoin, taking delivery is as simple as sending an email.

If anyone is idiotic enough to create more claims to Bitcoin than actually exist, revealing the fraud will be much easier than with other assets.

If BlackRock or some other entity tries this stunt, consider it a gift. You’ll be able to accumulate more Bitcoin at artificially lower prices until their Ponzi Scheme inevitably blows up.

Here’s the bottom line.

BlackRock’s colossal shift on Bitcoin indicates that big institutions could soon flood in.

It’s a powerful potential tailwind for Bitcoin.

I think we could be on the cusp of Bitcoin’s next upside explosion.

That’s why I’ve just released an urgent PDF report revealing three crucial Bitcoin techniques to ensure you avoid the most common—sometimes fatal—mistakes.

https://financialunderground.com/reports/survive-and-thrive-during-the-most-dangerous-economic-crisis-in-100-years/