Topic: Bitcoin changed people (enemy to supporter). Lary Fink (BlackRock CEO) 2017 2024 - page 2. (Read 345 times)

In 2017 he didn't know how to profit off Bitcoin so he criticized it so that investors would avoid it and instead buy his product. That changed when he found a way to make money with Bitcoin in a safe way - instead of buying it, he sells a service for investing in it. Like they say - during gold rush, sell shovels.

Maybe other haters like Jamie Dimon will find ways to participate in this ecosystem, maybe they won't - why does it matter? You shouldn't depend on their opinion.

If Larry Fink says that Bitcoin is used for money laundering and BlackRock buys Bitcoin, this will certainly affect his survival as CEO. The good side is that the news in the newspapers changes as the owners’ investments change, so whenever their investments in Bitcoin are, you will hear more positive news and vice versa.

Therefore, I expect tomorrow to say different things, such as that the real Bitcoin is the one that exists in a trusted third party, and that the Bitcoin onchain is the one that is used for money laundering.

Too deep into the tinfoil hat territory. It's highly likely that — you know, Larry Fink and BlackRock might just want to make bank through management fees — you know, like how they've always made money? I don't think it's that complicated.

This is his career now. They are the anti bitcoin guy.
They only acknowledge the downside of Bitcoin and never the upside.
I'm not going to lie. I love it when Peter Schiff tries to organize cheap sats for the boys. The more excited he is, the closer we are
But for someone who always uses Bitcoin, I find it odd that they are obsessed with Bitcoin and giving it this much attention. Unless they are holding a bag secretly. Good strategy

People could change the perception they have about a particular product. I am sure there are things you never believed in a few years ago that you find worthy currently. Also, these people are businessmen who focus on profit maximization, therefore they will be motivated to invest in any sector they think will give them high returns. The Bitcoin space is big enough to accommodate everyone interested and they are free to join.

Some of them might have started investing in Bitcoin secretly like we saw in the case of Warren Buffett where a bank that he is the major shareholder invested heavily in crypto. The Oracle of Omaha claimed that he would never buy Bitcoin even if the price drops to $25 but it was revealed that Nubank in making so much profit from cryptocurency Investments.

I expect these ETF operators to invest so much in cyber security to protect their wallets but nothing is impossible. A hack or any other negative occurrence will propel people to seek alternatives and self-custody is the only solution. I don't pray for such a hack because it will have adverse consequences on the market. Many people might lose their funds which will affect families negatively. However such negative occurrences are some of the ways of bringing organic Bitcoin awareness.

Why do we care what these profit hunters think? They will say anything, as long as it brings in profit for their pockets. 

Jamie "Demon" has been throwing stones at Bitcoin for many years, but JPMorgan Chase got fined for $920 million for trading violations.

They paid almost $900 million to a company that was controlled by a former Nigerian minister that was involved in money-laundering.

These large companies like Black Rock and Fidelity have their hands on every business and economic sector. Digital currencies is one area that they haven't expanded too. Once the Grayscale won the case against the SEC, it gave them a 'legitimate' reason to get into the market to make some money. They now have a platform to control market dynamics to shift things to their favour at any time.
Its not that they changed, you will see these people wherever there is money.

It's not cheap, but it's free. On the other hand, they don't bring organic supporters to bitcoin as buying bitcoin in this case isn't the intention of investors (individuals), but this company is capable of having negative impacts, say if one day a wallet hacking drama occurs.

They are bunch of clowns looking for ways to buy bitcoin cheaper.

they are still not supporters of bitcoin

analogy
much like monsanto is not supporters of organic wheat
yes they trade in GMO wheat but are not in the business of real organic wheat.
they still think organic wheat has risk of pestilence

they see organic wheat as the inferior competition, not the underlying seed they have in their seed house

they will not want citizens trading organic seeds and growing their own or harvesting local market wheat. they will want to control the whole wheat market via people investing in their monsanto GMO variety and commodity shares

expect them to still scream out that they dont endorse bitcoin but want people to invest in the "exposure" to its price, which they will control via their whale trading of the spot market and lobbying SEC to tighten up access and utility of spot markets to be tougher than just buying shares on their platform

Even their way of adoption is questionable. They are now supporters of Bitcoin but in a unique way. Unique in the sense that they are not actually trying to push for Bitcoin's adoption as what Bitcoin truly is. They're pushing for Bitcoin's adoption as something else. Although they are not the ones who started it all. They're riding on it without necessarily believing in Bitcoin's essence. They don't share Bitcoin's most fundamental advocacy and spirit.

Larry Fink for example doesn't believe in Bitcoin as a currency. He doesn't support it either. So why is he joining the community? It's because he can make money out of it. It's because he sees it as a new and rising technology that he can play with, that people can speculate on.

I did not admire Larry Fink because he changed his mind.

What he did changed is because of Bitcoin adoption now is bigger than in 2017 and he saw 2023 is a good time to start to push BlackRock steps in this market after Grayscale won against SEC. in a lawsuit.

He did it because he knew BlackRock will get lot of income and profit by having a Bitcoin Spot ETF for their business. It's all he saw and what he did is for BlackRock.

This topic, is to bring a point of thinking like if in future, at a day we see people like Jamie Dimon, Peter Schiff changed their words, it will be a day of Bitcoin massive adoption. No admiration on those people at any level.

Nice post.  Even if it is not exactly what they are doing they certainly are looking to fuck people over as they are all believers of the haves and the have nots.

I think that the game of individual protagonism is necessary in some countries, among them like no other in the United States, it is the symmetrical game that they like to have, it is an individualism that entails a lot of pure establishment classic.
On the other hand, their interests are expressed according to the return that the asset offers, not because bitcoin "affects" them to a change in mentalities.

People change according to their circumstances, and that's true in this case as well. Lary Fink claimed that Bitcoin is used for money laundering in past and now he's into it. It means that back then he wasn't sure that Bitcoin could be a profitable asset for his fund but now he understands that Bitcoin is not only profitable for his fund but in fact a game changer in the world of technological revolution.

Many ignorant people still consider Bitcoin as a scam but with the passage of time they will understand that whatever they were thinking about Bitcoin was totally wrong and they will regret for their ignorance. In starting many people considered Bitcoin as another Ponzi scheme now they all have huge holdings of Bitcoin. That's why they say that people change their minds when they understand the truth.

In the end they will be led to a situation that cannot be refuted with their own arguments. Maybe as someone who has resigned himself to what is happening now requires a change in belief. Not because they were forced to but they admitted that what they had done in the past had expired while Bitcoin was still holding up more than they thought.

Actually I don't really follow what Jamie Dimon often says, his bullshi* isn't very useful. Maybe Jamie wants to be the rare person who continues to defend his argument even though in his heart he admits it.

be careful of the fools game of sudden admiration...

ive used the analogy before.. (comparing bitcoin economy to wheat farm economy)
monsantoGMO  said natural wheat is ripe for disease..
monsanto got involved in wheat commodities

their creation of GMO wheat is not about suddenly adoring natural family farmed wheat. they just want to control the wheat commodity and have lobbied the EPA to make organic wheat be pressured into higher standards. where old fashioned farmed natural wheat is obliterated by industrial farming of GMO crops that then sue if GMO gets mixed with natural by family farms

now back to reality
his support of a bitcoin ETF is not the same as supporting real bitcoin transactions on the bitcoin network

i guarantee  you guys like dimon and fink will both claim their locked custody coins are the clean harvest which people can invest in. whilst then claiming circulating coins on the network are the plague ridden crop no one should touch

they dont think of themselves as bitcoin users. they want to control the upper echelons of international markets. and see the natural form be treated as the enemy/competition taking customers away from their investments.

This is often the case when a new technology is introduced. Especially when it happens in the financial sector where a lot of money, influence, and power are involved, it is understandable for those who primarily benefit from the status quo to resist.

These people's criticisms are born out of being disrupted or even threatened. But once they will adjust to it, that they and the existence of their money-making machines are not necessarily threatened, they could embrace it. Once they realize that they could even make more wealth from it, they might join. Finally, if they realize that it is after all inevitable, they've got no choice but to adopt it.

Larry Fink is the CEO of Black Rock.

In 2017, he said. BlackRock CEO Larry Fink calls bitcoin an ‘index of money laundering’

In 2023, on June, BlackRock filed for a Bitcoin Spot ETF.

In 2024, he said.
BlackRock’s Larry Fink says bitcoin ETFs are just the first step in the technological revolution of finance
Bitcoin is an asset class that protects you.

When Jamie Dimon has enough brave to do the same?

Bitcoin Spot ETFs approved, Bitcoin is not fraud. Where is Jamie Dimon?.

It seems to take more time for Jamie Dimon to do so because he more regularly and aggressively talked about Bitcoin in the past. It's hard for him to change his statement publicly as it is like his public admit on his wrong thinking.

Same for Peter Schiff.