Will Blackrock control BTC?

[Best-mary]

Hey guys how y'all enjoying this bull run? So something got me thinking after reading this news about Blackrock filing to get more BTC for their Global Allocation Fund.
Y'all can read the news here, it's a minute or 2 minute read: https://cointelegraph.com/news/blackrock-buy-spot-bitcoin-etf-global-allocation-fund

I mean, the funds coming from ETFs are really showing its worth. I can see the excitement on everyone's faces that bought BTC. I also have benefited a lot from it, engaged in different events like the Welcome to bull run on Bitget, some farming airdrops on Binance and many more.

But then again, do you think this might back fire on us in the longer term? We all know what these men are all after is to be in control and that's why BTC came into reality cancelling all that making everyone their own Government of their assets.

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[tbct_mt2]

Black Rock does not and will not control BTC if you implied about control on Bitcoin network.

They can have big shares in Bitcoin circulating supply but control the network, they won't have that power.

Black Rock started to show something big in the last year by investing in 4 of 5 biggest Bitcoin mining companies.

BlackRock is a major shareholder in 4 of the 5 largest Bitcoin miners. And they also spent their resources for Bitcoin Spot ETF application against SEC. Finally they succeeded and they are buying a lot of bitcoin last 40 days. Already surpassed MicroStrategy as a biggest public company holds Bitcoin.

https://bitcointreasuries.net/

[_act_]

But then again, do you think this might back fire on us in the longer term? We all know what these men are all after is to be in control and that's why BTC came into reality cancelling all that making everyone their own Government of their assets.

You do not have the power to control bitcoin before you will make money from it. What BlackRock is most after is money, to make money from their customers and nothing more than that. I am talking about bitcoin network and not the ETF because the ETF is centralized which is normal as it is ETF.

[Bellarg]

They already can manipulate BTC price in any way. They invested a lot in mining too. Still not enough to control the network, but more than enough to control the price

[Upgrade00]

We all know what these men are all after is to be in control and that's why BTC came into reality cancelling all that making everyone their own Government of their assets.

No one can control Bitcoin. They can directly or indirectly own bitcoins and choose to do with that as they please. But your bitcoins stored in your wallet cannot be influenced by any external factor, except you give access to them by handng over ownership.

Blackrock, other ETFs, companies and businesses are factors that will always show interest in an asset like Bitcoin, and that interestbwll only continue to grow. As long as you keep your coins in your custody, you'll be all good.

They already can manipulate BTC price in any way.

This is not true.

[Mrbluntzy]

Blackrock doesn't own the Bitcoin network, they are also not the only whale in the Bitcoin market which means there is no way they can control Bitcoin. Despite that there are many whales in the Bitcoin market over the years, there have always been other factors that affect the Bitcoin market.

[Apocollapse]

I consider control is higher than 50%, since the total lost coins, owned by Satoshi, and people hold worth 50% of the maximum supply are higher than 50%, so Blackrock still didn't controlling Bitcoin.

It's why we need to use decentralized exchange or no KYC P2P which listed on kycnot.me, in order to make the Bitcoin not going to centralized entity.

[Kakmakr]

Yea, having centralized financial institutions like BlackRock, locking 400 000 bitcoins into a centralized database is a big problem for many of us, but unfortunately we are the minority. The majority of the people do not see the danger or their judgement are clouded by greed, because they are "invested" in Bitcoin for the profits and not to promote Bitcoin as an alternative "currency" for the people.

In any way, if one person or group control the majority of the coins, people will start to move over to other Alt coins with more available coins and companies like BlackRock will have to start buying the more popular coins for their investors.  

[bluebit25]

I think quite positively that it could push BTC prices higher and attract more people to participate in the market. But also know that it can somehow lead to the concentration of power and cause Bitcoin to stray from its original purpose. The fact that many people participate in events such as bullish celebrations shows confidence and expectations in the potential of Bitcoin, the positivity shows the growing institutional interest in Bitcoin bringing capital inflows large flows into the market, driving BTC prices higher. But investing in any asset will have potential risks, dyor and evaluation before making a decision to invest in Bitcoin.

[Beparanf]

But then again, do you think this might back fire on us in the longer term? We all know what these men are all after is to be in control and that's why BTC came into reality cancelling all that making everyone their own Government of their assets.

This is the common misconception about Blackrock. They don’t plan to own that Bitcoin for holdings but rather they will just sell it to their clients that wants to own their own Bitcoin. Blackrock is just holding it for their client but they don’t have the power to sell it by themselves without the consent of their client.

Blackrock gains money through commission and fee by selling ETF. They are not the one who owns the Bitcoin but the client who invested funds to them. It’s not Blackrock you should be afraid of but rather those customers that buying Bitcoin because they are the one who will dump the market with their holdings.

[thecodebear]

Hey guys how y'all enjoying this bull run? So something got me thinking after reading this news about Blackrock filing to get more BTC for their Global Allocation Fund.
Y'all can read the news here, it's a minute or 2 minute read: https://cointelegraph.com/news/blackrock-buy-spot-bitcoin-etf-global-allocation-fund

I mean, the funds coming from ETFs are really showing its worth. I can see the excitement on everyone's faces that bought BTC. I also have benefited a lot from it, engaged in different events like the Welcome to bull run on Bitget, some farming airdrops on Binance and many more.

But then again, do you think this might back fire on us in the longer term? We all know what these men are all after is to be in control and that's why BTC came into reality cancelling all that making everyone their own Government of their assets.

That's not how it works. Doesn't matter how much bitcoin Blackrock owns. Bitcoin isn't proof of stake, owning more bitcoin gives blackrock no control over Bitcoin.

Also please realize that Blackrock only owns bitcoin on behalf of their clients. So while technically they own the bitcoin, they don't really own it because its all with clients money. This is not Blackrock's money. And as my first sentence says, it wouldn't matter anyway because it gives them no control over the bitcoin network.

Lots of people have stated this same worry since last Summer, but it comes from simply not understanding how Bitcoin works, and apparently not understanding what ETFs are.

[Cryptmuster]

This is the common misconception about Blackrock. They don’t plan to own that Bitcoin for holdings but rather they will just sell it to their clients that wants to own their own Bitcoin. Blackrock is just holding it for their client but they don’t have the power to sell it by themselves without the consent of their client.

Blackrock gains money through commission and fee by selling ETF. They are not the one who owns the Bitcoin but the client who invested funds to them. It’s not Blackrock you should be afraid of but rather those customers that buying Bitcoin because they are the one who will dump the market with their holdings.

While this is so, but it is quite possible that everything may change, and they will also want to own Bitcoin, but this does not change the big essence, if at some point their clients want to sell and this will have an avalanche effect, then this can also affect price. I agree that everyone will not sell at once, but the market is capable of provoking people into panic sales, this has happened many times and I see no reason why it cannot happen again. Blackrock is always looking for opportunities to make money, and if they saw an opportunity in Bitcoin, that's a good sign.

[Iranus]

They already can manipulate BTC price in any way.

This is not true.

It is not the appearance of Blackrock that causes the price of bitcoin to be manipulated, but rather that the price of bitcoin has been manipulated in the years since it was traded. If you believe that bitcoin is not manipulated, can you explain to us why bitcoin price can fluctuate so much? Because if the value of an asset depends entirely on supply and demand, how can it fluctuate from 5-10% every day, even every hour? So far, no one can manipulate or control the bitcoin network but as for bitcoin price, I believe it is always manipulated.

[NewRanger]

The crypto market has a bright future for us where after we faced the previous bearish trend the market returned to its current state. Regarding your assumption above, in my opinion it is just their opinion, in fact everyone in the world can own BTC.

BlackRock is a very large global investment company, but remember they have no direct control over Bitcoin, they only provide a statement stating their high interest in Bitcoin's future prospects. Yes. Personally I would choose universal, I think BTC is the main coin in the cryptocurrency market. Its features have many advantages when compared to other coins and if anyone wants to speculate and provide more control.

[barto123]

Blackrock does not control the Bitcoin network.

However it has been infiltrated to some degree, the tentacles of the parasite elite stretch far and wide.

By the looks of it, a lot of miners, exchanges, wallets etc have been bought up by big tech.

They are constantly attempting to lead Bitcoin towards the NWO agenda, however the sovereign Bitcoiners who run their own node, hold the keys, privacy best practice etc are holding the fort.

They have also infiltrated the culture a bit. Hodl to get rich is fiat mentality.

To me, Bitcoin is still a tool for freedom & life raft for economic collapse, however the privacy by default is severely lacking (and we know most people are too lazy to acquire it). This may have been another thing that was infilitrated because Satoshi was clearly an anarchist cypher punk.  There's no freedom without privacy and that's why I'm personally supplementing Bitcoin with Monero.

[kentrolla]

They cannot control Bitcoin until and unless they own Bitcoin network which is not possible and most of the activities are limited to centralized stuff hence they may not be able to cause any major disruption in Bitcoin market, there are hundreds of such whales in Bitcoin and only one institution cannot do much here. Also we need to understand the difference between Bitcoin network and ETF as if we understand then we won't worry about it.

[kryptqnick]

Bitcoin ETFs currently have 192,255 BTC under their control. That's less than 1% of circulating supply, and that's the ETFs combined. Interestingly, the iShares Bitcoin Trust by BlackRock holds a similar amount, which is almost close to 1% of the total supply. Going from 1% to controlling Bitcoin is a very big jump. They can accumulate more, and maybe this 1% will become 2-3%, which is still negligible in comparison with the circulating supply. So I don't think they're trying to control Bitcoin, and I don't think they'll ever accumulate enough to actually be considered as 'controlling BTC'.

[mindrust]

Hey guys how y'all enjoying this bull run? So something got me thinking after reading this news about Blackrock filing to get more BTC for their Global Allocation Fund.
Y'all can read the news here, it's a minute or 2 minute read: https://cointelegraph.com/news/blackrock-buy-spot-bitcoin-etf-global-allocation-fund

I mean, the funds coming from ETFs are really showing its worth. I can see the excitement on everyone's faces that bought BTC. I also have benefited a lot from it, engaged in different events like the Welcome to bull run on Bitget, some farming airdrops on Binance and many more.

But then again, do you think this might back fire on us in the longer term? We all know what these men are all after is to be in control and that's why BTC came into reality cancelling all that making everyone their own Government of their assets.

How do you know if they didn't even before the ETF? Hedge funds can invest in anything. They don't care if some asset has an ETF or not. They can invest in online casinos, crypto etc... Nobody really know what assets they have in their portfolios. Blackrock have been in the game longer than people realize probably. At least that's what I think.

You said ETH... Eth was a $9 coin when I first saw it. Now it is a $4k coin. Do you think BlackRock haven't made any profits while Eth was going from $9 to $4k? None? I don't believe it.

[0t3p0t]

They literally don't have control in the network of Bitcoin however they can manipulate the market since they have huge holdings that can be used in advantage to them either they wanted to buy more or they just want to make profit from their hefty investments. These institutions see Bitcoin to be the best and profitable asset compared to maybe other investments available around that is why they are jumping into it.

[thecodebear]

They literally don't have control in the network of Bitcoin however they can manipulate the market since they have huge holdings that can be used in advantage to them either they wanted to buy more or they just want to make profit from their hefty investments. These institutions see Bitcoin to be the best and profitable asset compared to maybe other investments available around that is why they are jumping into it.

Remember it isn't Blackrock's money. They aren't making profit from ETF directly. They are only making profit from charging fees for the ETF. The money in the ETF is clients money.

People keep acting like the Blackrock ETF is Blackrock's money and they can do whatever they want with it to try to manipulate the market lol. Some of ya'll need to look up what an ETF is. None of this is Blackrock money. They just buy and sell based on the buying and selling of their clients. They are simply a middleman for clients who want access to bitcoin as an investment. Say it with me: "THIS IS NOT BLACKROCK'S MONEY" lol

Some of you would be so much less worried about irrelevant things if you learned some basic stuff before you started worrying.

Blackrock has no control over the Bitcoin network because that simply is not how Bitcoin works, and they aren't even buying any of the Bitcoin in their ETF because that's not how ETFs work. Stop worrying over nothing.