Bitcoin Forum

I am curious.

Since Black rock and Greyscale among others are very powerful in the financial world, are they powerless in politics? Because I believe they will benefit even more if someone who supports crypto to the core is elected as the new president of the United States.

I can't help it think that if these people also have power in politics somehow, any crypto hater will be gone if they want them gone, I believe these people are responsible for the forceful apprivement of the ETFs, now Ethereum ETH is also a success.

With Biden and Warren hating on crypto, these two will be too powerless if many powerful companies want them out of power over crypto.

This is just a thought, and I could be wrong, I read this nowhere but all in my head, if you have something to say about this you are welcome.

In a scale of the big corporations which are interested in and can influence the outcome of elections and politics in general grayscale will be low ranked. Blackrock I expect does have some level of interest and influence, but that may not become obvious in determining the country should have a pro crypto President and if they can get what they want without it.

- Jay -

If doesn't really matter, if the US president is going to be pro-crypto or anti-crypto. Trump was anti-crypto several years ago, and nothing happened, the crypto industry in the USA wasn't damaged at all.
What matters is the number of pro-crypto congressmen and senators. The legislation is being passed in the Congress and Senate, the president can only approve or the deny the laws.
Blackrock are really powerful and have big influence over politics, but I doubt that they are totally pro-crypto. They will just use Bitcoin/crypto as a tool to gain more profits(which is perfectly normal, all crypto investors also want profits). However, I don't think that the people, who rule Blackrock are believers in the core principles of Bitcoin

I don't know about Greyscale but I'm sure that BlackRock has lobbyists working for them to deal with those lawmakers that are trying to go for things that are out of the interest of BlackRock, BlackRock if I recall correctly is a big investment corporation and they're in all kinds of investments out there so I'm sure that they're going to be using some kind of way to make it easy for them to be doing their things, like acquiring swaths of land for redevelopment purposes and so they can make money out of it through real estate. BlackRock is a powerful company, in fact, any big company that involves money most of the time is a guarantee that they have their hands on politics because that's where you can bend the law to your will is. If you were in their position, you will do everything that you need to do to secure as much money and influence after all.

On believing what you've said, it's certain that there could be selfishness to the hold that Black rock would come for the rescue of bitcoin if not just if its interest. Hence they're not stakeholders of the bitcoin SEC there's no much global Interests they may afford to effortlessly contribute to the reputation of bitcoin if not just chasing after more money to maintain its financial influence.
While also agreeing with you, the president of the United States doesn't supercede the Senate and Congress bodies, so the stance of bitcoin development to gain more grounds depends on the popularity and dominance of its enthusiastics and not about the presidency to be pegged on the US.

It's possible to be very rich and powerful but not powerful enough to become the president of a country. Politics is corrupt, only when you are fully a politician that's when you might be able to stand a chance of becoming a president. In my country, before you can run for presidency, you must have handled other Political positions in the country such as running for a governorship position or other positions. Although I don't know how US run their politics but I don't think blackrock and the later can stand a chance of becoming president.

You're not wrong, if they hate crypto enough, they will want it gone but the real problem that's plaguing those cryptocurrency haters is that even with all those influence and power at their disposal, they're still going to need to make sure that there's deniability available to them and that no one would be able to stick things to them because they don't want the backlash that will definitely be coming when they start their war with cryptocurrency, they don't know the implications yet and they dread that feeling.

The wonderful thing is that if there was something to happen in crypto that impacts it negatively including the community, they're going to be the first in the list of suspects especially if they suddenly are benefiting from it, there's no way that they can't be involved.

Anyone associated with cryptocurrencies would surely benefit if someone crypto-positive were to be elected however these big companies no matter how big and influential they would not be able to directly play their cards in politics. They can however support or sponsor a particular candidate but it still wouldn’t guarantee that that candidate will win.
I don’t think people who hate or are indifferent towards crypto would be gone if this were to happen. Maybe some are only product of false information and would likely clear up some misconceptions but the best scenario to come out of this situation would the benefits directed to us crypto enthusiasts.

These are just tip of iceberg and yeah they donhave limited influence but we don't see actual market makers since they don't come out in public but rather calls the shot and let's not talk about these spineless politicians or president's because they will switch sides anytime as we have seen how Trump has been trying to jump ship from being an anti crypto to being somewhat pro crypto and Biden i am not sure if he even understands what crypto is, I think there are fray area which we don't have visibility and they takes the call.

I will give you a great example.

SEC do not like Bitcoin.

But because of the influence of these large financial corporations and instutions, there is a possibility that the decision have been influenced by them.

It has been so long since BTC etfs have been applied by other financial institutions and when it has been applied by Blackrock, the chance of approval has increased and it did happened.

Blackrock, JP Morgan, Exxon Mobil, Apple, Microsoft, Pfizer, J&J, Nvidia… You name it. All of those big corps have an influence on the politicians. It is not just the bankers or money managers.

A petroleum company like Exxon Mobil owns a very strategic business and people listen to them when they say something. It is because oil is still the dominant energy source for transportation. When they stop digging, the world stops spinning.

Microsoft provides all the software infrastructure of every bank and many other big businesses probably. Lots of corporations and even countries depend on microsoft’s products.

Take a look at the biggest companies of S&P500 and continue with the examples from where I left.

Trump wasn't against bitcoin and cryptocurrencies when he was president, he just wasn't interested in them at the time. Now, he has changed his views on cryptocurrencies but I believe that what he said will have no good purpose other than wanting to win the votes of crypto lovers in the election his upcoming appointment.


We won't know if they are involved or have influence in politics, but they are business people so profits are what they care about most. So you don't need to be surprised or blame them when they don't care about the core principles of bitcoin. Even for us, are you sure people will continue to support bitcoin if bitcoin is no longer profitable for them? My guess is that if bitcoin became stable, most would leave it and it would not be as popular as it is today.

They are not powerless if you know the FTX fiasco. Sam Bankman-Fried actually got a lot of support behind the scene, through his lobby and he got it from relationships of his father and mother. If you search about his history, you will see that SBF donated a lot of money for politicians before he got troubles with FTX collapse and went to jail.

He had some meetings with SEC. chairman but by some secrets, the chairman did not see anything strange in operations and fund treasury of FTX exchange and Alameda Research.

It's show that institutional companies have power in politics that benefit them in business operations. BlackRock has nearly 100% approval rate with their Spot ETF applications, no coincidence.

I'm almost certain that the approval of Ethereum's EFT is a response from the Biden administration against Donald Trump... Look... what could decide these elections are the votes of people involved in cryptocurrencies, so to capture these votes they started a electoral war... Trump accepting cryptocurrencies and Biden now has the narrative that it was in his government that ETFs were approved... Anyway, they go where they can capture more votes, it's nothing to support the cryptocurrency industry or anything like that .

And all these people, whether from funds and investment or large companies, are directly linked to the government... We are talking about the most powerful people on the planet.

A crypto-friendly president might make policies that will favor these companies. But there are still some powerful lawmakers who are anti-crypto. These lawmakers could also propose laws that might undermine crypt growth or development.

These powerful corporations sponsor elections of these politicians so that they can support them when they get into power. Biden might not have been a supporter of crypto, but his administration approved the Spot ETF after years of disapproval. Trump is unpredictable; he is a businessman who supports policies that favour his business interests. He might be more friendly to the crypto space if he or his business has invested heavily in the industry.

Just always remember,

Satoshi designed bitcoin very specifically. The number of coins someone has, is essentially how much stake they have in the network.

In terms of power, this logic applies to those that were believing in bitcoin first.

Are they still around? Yes.
Are they in the shadows? Yes.
Is that scary? No. It's how it was designed to be!

Basically, what I'm saying is, or at least what I think I'm trying to convey, is that politicians are too stupid and preoccupied with looking good in front of the camera nowadays to be considered powerful people.

they have the contract to rebuild Ukraine after the war, is that an organization that doesn't influence in politics?
when Grayscale and Ark filed BTC ETF, they were denied many times but when Blackrock finally came, after a few months, Bitcoin ETF was approved. that is an investment company that can make a hardcore banker into memecoin lover if they say so.  Biden and Warren will soon be a memecoin long term holder.

Do you think it's already the end for them? nope!

Michael Saylor was a Bitcoin hater, he said that Bitcoin is bubble. But, after he shift from naysayer to yaysayer where his company i.e. MicroStrategy keep buying Bitcoin every dip, now many people support Michael Saylor and didn't hate him anymore.

Which mean, even Biden and Warren hate on Bitcoin, if tomorrow they decide to support and invest in Bitcoin, they will be known as Bitcoin supporter instead of Bitcoin hater.

Politicians are backed with businessmen.

There will be someone who will raise their hand to make law/s, regulations that will benefit them and/or someone's known business this includes in crypto businesses including investments. Trump talking friendly about crypto now is just something like an attention seeker.

President's sweet-words regarding bitcoin is not always the case it's how the majority of the law makers and the votes will go through to make a law.

“I will keep Elizabeth Warren and her goons away from your Bitcoin.”  - Trump
https://x.com/TiffanyFong_/status/1794549018846257611
Trump while talking about self-custody support to his supporters, this is going to be an election that is mostly into convincing the public about financial freedom.

Blackrock is one of the biggest asset management companies. Of course, the company has influence, they can put those politicians inside their pockets and make laws in their benefit.

ayup and in the case specifically of Blackrock, they are the LARGEST investment company
in the WORLD so we can be damn sure they can, have and will influence "politicians" to some
degree in order to satisfy their business and clients.

As regards "Crypto" it is a relatively new venture for them and only part of their investment
and asset offering, dont know what percentage that is now but its safe to assume its going
to grow so their influence on political decision makers for crypto affairs should increase too.

---

Actually a quick google search result kind of says a lot!

https://talkimg.com/images/2024/05/26/LRDyo.jpeg

Politics is a game in which you are playing against many other powerful players, so just as there are players that are interested in getting more support for this market, there are others that want the opposite, including a great deal of politicians themselves, besides even if they could do it, what kind of economic and political costs such a maneuver could have? So I feel it is better for those entities to just wait for a generational change to happen so a US president is in favor of this market on their own.

What forceful approval? The SEC lost in court and had to approve. Are you saying that the court was also bribed by BlackRock?
IMO the SEC was wrong long before it lost in court, since it allowed futures ETF but did not want to allow spot, quoting unstable unregulated market. So Futures could be traded despite these problems?


Warren has no power. She's been doing her best to slow down bitcoin adoption, but check how many of her motions actually passed. Really, check all the things she tried to push through in the last 2 years and see how many of them became the law. You'll see how pathetic her attempts really are.

Well, first off we need to make clear that there is an obvious relation between the dynamics of power within the United States and the decisions which are took by the managers, donors and CEOs of those hedge funds and money managing firms. It is an implicit part of how capitalism works in the USA. However, I would point out you make sound all of this as if was part of some ideological change of heart of those companies in favor of Bitcoin, Ethereum and other alternative currencies, which is not the case.
Those companies and hedge funds are only in for the growing of money, regardless whether it is through the expansion of Crypto or not.

They won't fund other candidates or politicians apart from Biden, Trump or any other establishment political (economical dinosaur), because even though Bitcoin and Ether are big, there are even bigger industries to be exploited for their own benefit. Crypto won't surpass oil extraction and commerce any time soon, and won't surpass coffee commerce.
If it is about money, then it is not about the ideals of the candidate, but the money he can help you to make in the next four years.

Big corporations and rich people always influence the elections as well as politics, there will be support on both sides that may nullify the effects of their each influence or one goes over the other which we can't really know for sure.

IMO, rich people don't like the people to have the full freedom of using their money so one or the other way they all are going to be anti crypto unless they are directly involved in crypto and may get more benefits from crypto if it's regulated or recognized as an asset in a country.

Yes  I concur with the aspect of US president not superceding other governmental bodies, in decisions making allot is required despite been a president there are certain decision that president can conclude without seeking others sectors that make up the government.
Looking  critically on op point of observation if black rock channel it financial energy to crypto it can course some high level of adoption if it's from the political motivated perspective where there is a strong conviction op point many be reality.

Currently they are financially strong and they are currently associated with massive popularity. Because he has a huge following on social media twitter, here I can focus on him. However, there is a lot of popularity from the external side, although they are not currently ahead politically, Ethereum ETFs are currently very popular.

In today's world, whoever has more money, the most people follow him. That's why I want to die Gray Skill has no shortage of demographics, as their fans are more visible when news breaks on social media and actually have more followers. Because I live in this country, I will speak about my country, usually in politics and there are more people like that. So people are busy doing all such activities due to the greed of money.

Yes they are financially buoyant to courtesy for political position but Black Rock and Grayscale don't have the knowledge of politics, it will be difficult for them to take such risk in the society because they will only get support from crypto users.

Don't forget that there are some billionaires in the country that made their money from estate business or other businesses, which they are capable to stop those crypto billionaires not to win the election because that is their profession and they have the money to finance the campaign till they win the election.
Based on what Joe Biden has done to crypto, it will make majority of crypto users not to support him in this U.S election because they need someone that will make crypto legal tender in the country so that crypto users will begin to hodl political offices in the country.

Blackrock or Grayscale  should have nothing to do with the power of the politics even if they can influence crypto so badly. Politics is different from crypto and when you want to join them and have nothing in return, it becomes very bad and your ambition cannot be fulfilled why following that path. Bitcoin is not a one man technology and by sacking a lot without dealing with will no go wide higher than the way we can ever imagine now. Political power or not, it cannot influence bitcoin on its use or follow same kind of system that is against how it is designed to operate.