Why Is Wall Street Backing Bitcoin?

[oll]

"Backing Bitcoin"?
Isn't that an exaggeration at best?

Those in Wall Street are more like Vultures, looking for carrion to feed on. They've noticed the massive potential that bitcoin has for years and have been in this market for a very long time and are now just making it more public. They just want to fill their own pockets specially since it is somewhat easier to manipulate the unregulated and smaller bitcoin market than it is to manipulate the heavily regulated and monitored US stock market.

Larry Fink, the head of BlackRock, doesn't care at all about blockchain and bitcoin as decentralized solutions, he only cares if people with money are ready to invest in it, and he will certainly provide the opportunity and make money from it. In news publications, they absent-mindedly write "BlackRock bought bitcoins," but not everyone understands that this campaign does not personally buy crypto. That is why there is no information about Larry's personal savings.
All of his words, as well as those of other personalities, are positive about bitcoin just for the sake of attracting more customers. And I'm sure he hasn't changed his initial opinion about bitcoin, he's just keeping his mouth shut now. And his primary opinion about crypto is negative.

https://www.cnbc.com/2017/10/13/blackrock-ceo-larry-fink-calls-bitcoin-an-index-of-money-laundering.html

[Enlazator]

I think the question is flawed from the start when it talks about whether “Wall Street supports Bitcoin” as if Wall Street were a single entity with one opinion. These are different companies with different interests. If some of them offer ETFs, custody services, or support certain regulations, it does not mean they “support Bitcoin”; they simply see demand and a buisness opportunity.

[ethergod]

Wall Street understands it is a finite asset, and so they want to hoard it. This comes at the cost of decentralization, to some extent, as well as the idea that it's for the little guy - but hey, the people have been told about Bitcoin for years and ignored the pleas!  

[OcTradism]

Larry Fink, the head of BlackRock, doesn't care at all about blockchain and bitcoin as decentralized solutions, he only cares if people with money are ready to invest in it, and he will certainly provide the opportunity and make money from it. In news publications, they absent-mindedly write "BlackRock bought bitcoins," but not everyone understands that this campaign does not personally buy crypto. That is why there is no information about Larry's personal savings.
All of his words, as well as those of other personalities, are positive about bitcoin just for the sake of attracting more customers. And I'm sure he hasn't changed his initial opinion about bitcoin, he's just keeping his mouth shut now. And his primary opinion about crypto is negative.

https://www.cnbc.com/2017/10/13/blackrock-ceo-larry-fink-calls-bitcoin-an-index-of-money-laundering.html

The article you mentioned is in 2017 when Wall Street companies were very anti Bitcoin. See

2013 - 2017: Completely dismissals

Jamie Dimon https://www.marketwatch.com/story/all-the-times-dimon-may-regret-bashing-bitcoin-in-one-chart-2018-01-09

Michael Saylor https://x.com/saylor/status/413478389329428480

#Bitcoin days are numbered.   It seems like just a matter of time before it suffers the same fate as online gambling.

Of course you can add Larry Fink as another reference for that period.

The more interesting thing is after BlackRock got an approval for their Bitcoin Spot ETF and brought its product to many people, institutional investors, they are still keen on altcoin blockchains.

They are very positive about tokenization, RWA, but on altcoin blockchain - Ethereum.
Larry Fin and Rob Goldstein on how tokenisation could transform finance.

For example, the Ethereum-based company Securitize specializes in tokenizing traditional financial products. In 2024, it partnered with BlackRock to launch a RWA fund. BlackRock says it plans to eventually tokenize $10 trillion USD of its assets: its CEO, Larry Fink, called tokenization “the next generation for markets”.

[oll]

Larry Fink, the head of BlackRock, doesn't care at all about blockchain and bitcoin as decentralized solutions, he only cares if people with money are ready to invest in it, and he will certainly provide the opportunity and make money from it. In news publications, they absent-mindedly write "BlackRock bought bitcoins," but not everyone understands that this campaign does not personally buy crypto. That is why there is no information about Larry's personal savings.
All of his words, as well as those of other personalities, are positive about bitcoin just for the sake of attracting more customers. And I'm sure he hasn't changed his initial opinion about bitcoin, he's just keeping his mouth shut now. And his primary opinion about crypto is negative.

https://www.cnbc.com/2017/10/13/blackrock-ceo-larry-fink-calls-bitcoin-an-index-of-money-laundering.html

The article you mentioned is in 2017 when Wall Street companies were very anti Bitcoin. See

Yes, it is about 2017. After all, I wrote about the early and, in my opinion, true opinion of such people about crypto, which they still have, but they don't show it.

[Ahli38]

Michael Saylor just posted something on X (Source). There are many comments there, where each offering their own take on the meaning of the post. And I think Michael Saylor is warning about a certain situation based on his own assumptions. Some people also interpret the horse as a Trojan horse. But I personally don’t really understand the exact meaning of Saylor’s post. Perhaps he wants to warn people about a specific situation that could happen. And it seems like he can’t say it outright. On the other hand there was reportedly a widespread sell-off of Bitcoin on Wall Street lately (Source). I personally think that they seem to be doing this just because they want clear rules. But I also feel that it’s unlikely they’re planning anything else behind that support. What are your thoughts on these?

[retreat]

What we see is that not all Wall Street firms are unanimous in their support for the CLARITY Act. Some companies, particularly traditional banks, disagree with the policy. However, for companies directly involved in or interested in exploring the digital asset industry, sentiment is generally much more positive.

All parties who support this bill share the same goal that they want certainty in the U.S. crypto industry. They believe that these regulations will create clearer rules, allowing them to invest more money with greater legal certainty. In the end, it all serves their own interests: to maximize their profits from the crypto industry.