Bitcoin jumps after report suggests BlackRock is getting serious about the crypt

leea-1334

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Quote from: Daltonik on August 20, 2021, 02:40:58 AM

BlackRock, Inc. has acquired shares in the mining firms Marathon Digital Holdings and Riot Blockchain.
According to Form 13F dated June 30, 2021, BlackRock acquired a 6.71% stake in Marathon Digital Holdings for about $207 million and 6.61% of Riot Blockchain for about ~$175 million. The total value of its positions was $382.96 million. https://www.sec.gov/Archives/edgar/data/0001364742/000108636421000071/xslForm13F_X01/form13fInfoTable.xml

So it happened already then all the way back in June. Marathon digital,,, those were the guys that initially wanted to censor some Bitcoin transactions right? Now I think I know why that transpired,,, they just wanted to make it look like they were careful and only wanted "clean" Bitcoin dealings, so now we know that was because of this

Daltonik

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BlackRock, Inc. has acquired shares in the mining firms Marathon Digital Holdings and Riot Blockchain.
According to Form 13F dated June 30, 2021, BlackRock acquired a 6.71% stake in Marathon Digital Holdings for about $207 million and 6.61% of Riot Blockchain for about ~$175 million. The total value of its positions was $382.96 million. https://www.sec.gov/Archives/edgar/data/0001364742/000108636421000071/xslForm13F_X01/form13fInfoTable.xml

valentine401

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Quote from: alyssa85 on July 16, 2018, 08:22:53 AM

https://www.cnbc.com/2018/07/16/bitcoin-jumps-after-report-says-blackrock-exploring-cryptocurrencies.html

Quote

The price of bitcoin surged Monday after a report said that BlackRock has set up a working group to explore ways of taking advantage of the cryptocurrency market.

London’s Financial News newspaper, citing two unnamed sources, said that BlackRock has formed a team from different parts of the business to investigate cryptocurrencies and blockchain, the technology that underpins them.

According to one of the sources, the asset management giant will study whether it should invest in bitcoin futures. The sources also said that BlackRock’s working group will keep a close eye on what its competitors are doing in regard to cryptocurrencies and blockchain.

In that case, it was actually a good news for the investors because it only means that there will be more investors who are going to join cryotocurrency industry this year.

cellard

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Quote from: 1Referee on July 17, 2018, 01:27:22 PM

Quote from: cellard on July 17, 2018, 10:41:51 AM

If they have "bought in big" then you will see very big green dildoes happening before they make the press release, because these giants can move the Bitcoin market easily since the Bitcoin market is tiny.

Just a small percentage of exposure would drive the price to $100,000+. There is no way for these giants to get in without it being obvious, unless they spend years buying small chunks to not raise the price up. The question is, have they been buying these small chunks for years now? who knows, but still, the marketcap is tiny, 1 to 2% allocation and we are looking at 6 figures easily, so they aren't in yet unless small amounts.

These players don't enter through the regular exchanges. Exchanges aren't liquid and competent enough.

In the more recent times while people have been complaining about no new money entering, I have been pointing out that money isn't entering through exchanges, but through OTC trades. Even if a larger party ends up buying hundreds of thousands of coins, you won't see exchanges reflect that. Miners have been selling directly to private buyers; they don't even have to dump their mint on the market anymore. Private buyers happily pay premiums for their virgin coins.

Sometimes huge OTC deals get leaked. If it involves a decent amount of people, there is a risk that someone will get paid to leak the information, this is basic insider trading, someone gets paid, this leaks, and then it ends up having an impact on the market AFTER the deal happens so the people involved in the OTC trade aren't really affected by it. So on a long enough timeline a big OTC trade gets leaked and we will see it on the price. Recently we've seen someone moving 50,000 BTC, speculation is up about it now.

1Referee

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Quote from: cellard on July 17, 2018, 10:41:51 AM

If they have "bought in big" then you will see very big green dildoes happening before they make the press release, because these giants can move the Bitcoin market easily since the Bitcoin market is tiny.

Just a small percentage of exposure would drive the price to $100,000+. There is no way for these giants to get in without it being obvious, unless they spend years buying small chunks to not raise the price up. The question is, have they been buying these small chunks for years now? who knows, but still, the marketcap is tiny, 1 to 2% allocation and we are looking at 6 figures easily, so they aren't in yet unless small amounts.

These players don't enter through the regular exchanges. Exchanges aren't liquid and competent enough.

In the more recent times while people have been complaining about no new money entering, I have been pointing out that money isn't entering through exchanges, but through OTC trades. Even if a larger party ends up buying hundreds of thousands of coins, you won't see exchanges reflect that. Miners have been selling directly to private buyers; they don't even have to dump their mint on the market anymore. Private buyers happily pay premiums for their virgin coins.

STT

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Its nice in adding credibility and Blackrock after buying out Barclays is the worlds largest investment operator I think but I'd also be a bit more cautious in optimism as any bank will try to play both sides.
I wouldnt just assume they will be investing, they may just also be looking for ways to short the market or just add the headline idea of crypto while just collecting customers details to sell other products.

Also I think this recent rise is more down to a BTC ETF being possible then Blackrock which is a company that would still need to retail that product. The ETF is likely to be used as a trading option for various operators on stock markets so it'll be quite highly used.

I still prefer if people used BTC directly, just these funds to hold indirectly for the purpose of gaining a price is not such as big deal to me. I see BTC as enabling finance in areas with no reliable banking, that'd be a massive change and represent genuine growth if it were to happen and engage people otherwise not connected.

LeGaulois

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LOL Within 15-20 minutes the Bitcoin price increased by $400 or $500 What's going on? It's a long time since we saw such a move. We are at risk to make money now! If we get a new ATH within 72h I will tattoo the Bitcoin logo on my ass and my banker will need to kiss my ass!

BitcoinNewbie15

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Quote from: cellard on July 17, 2018, 12:12:31 PM

Yep not a long time ago BlackRock was calling Bitcoin a toy for money launderers. It's funny how these giants with endless vulture funds hoarding massive amounts of property taking advantage of people that cannot pay the bills go around acting as if they have higher moral grounds. These guys are money making machines and couldn't care less.

For now they are allied with the USD and it benefits them calling Bitcoin a scam for criminals, but once the USD starts cracking and they feel some fears of systemic risk they will look at ways to mitigate this and will not hesitate to buy a bunch of BTC.

If you can't beat them, join them. Definitely seems like that is what is happening here. For years, many people, regulators, hedge fund managers, etc. have been calling BTC a scam, Ponzi scheme, worthless, so on and so forth. Bitcoin has consistently defied the odds and soared higher and higher. It's good that these people are starting to realize that "hey, maybe BTC is actually worth something and it's here to stay" FINALLY.

What's exciting is that BlackRock alone manages $6.3 trillion dollars in assets. Imagine if they diversify 0.002% of their holdings into Bitcoin. That alone would increase Bitcoins value significantly. This is just one asset management group out of the countless asset management groups out there. As more and more join in the value will only keep climbing (metcalfes law/network effect). This is just the beginning of Bitcoin finally becoming a legitimate asset.

Harlot

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Quote from: BrewMaster on July 16, 2018, 08:52:03 AM

believe it or not bitcoin market is not yet a gigantic market that 3% rise in it can be considered a "jump" Cheesy

that much rise is still considered a tiny ignoreable fluctuation within one day. a jump would have been a rise above $7k at least.

in case case after googling what "BlackRock" is since i have never heard of it, i don't know how i feel about this news. an investment management company that big entering the scene and thinking about "taking advantage of the market" doesn't necessarily mean good things are coming. we may see hype and a rise for now but i don't know what we will see in the short run from them.

They might be considering it as a jump because seeing a 300$ increase might be new to them. They are so used to to at at seeing 50 or even a 100$ increase/decrease per day that a 3-4% increase is big for them. Also this news sites will always use the words “rally”, “price jump”, or“surge” to make their headline more interesting. The more misleading headlines they give to us the more people will believe that this price movements are big. This traders won't learn a thing for believing such news headlines.

cellard

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Yep not a long time ago BlackRock was calling Bitcoin a toy for money launderers. It's funny how these giants with endless vulture funds hoarding massive amounts of property taking advantage of people that cannot pay the bills go around acting as if they have higher moral grounds. These guys are money making machines and couldn't care less.

For now they are allied with the USD and it benefits them calling Bitcoin a scam for criminals, but once the USD starts cracking and they feel some fears of systemic risk they will look at ways to mitigate this and will not hesitate to buy a bunch of BTC.

Kemarit

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Black Rock has been very vocal about bitcoin and blockchain since last year but during that time they see bitcoin as a bubble, that's why they didn't enter the scene. They are correct as we all know that its been burst already so that's why they are making a lot of noise because this is the perfect time to get into action. Or probably this news also push the price as of late:

https://bitcoinist.com/cryptocurrencies-pose-no-threat-to-global-finance-but-require-vigilant-monitoring-says-fsb/

Quote

In a press release issued on July 16 via its website, the Financial Stability Board (FSB) announced that cryptocurrencies do not pose a threat to the global financial system.

So BlackRock announcement + FSB PR = Bitcoin pump

cellard

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Quote from: 1Referee on July 17, 2018, 03:49:51 AM

Quote from: Pursuer on July 17, 2018, 01:37:17 AM

anything below 10% change, specially when it takes a couple of days to be achieved is negligible. it is not a jump, the negative of it is not a crash either. they are simply small price movements that are normal and you can not say it is because of this or that.

Agreed. People tend to get excited easily when they see their charts develop green dildos.

Quote from: Pursuer on July 17, 2018, 01:37:17 AM

not to mention that BlackRock didn't start anything in cryptocurrencies nor bitcoin. they just started having them under observation.

That's how it all starts.

As soon as these large players announce that they are ready for it, you can be sure of the fact that they have bought in big. Current 'observation' means very likely accumulation time. They are the largest player in the game they play, they know how to deal with every market in the most profitable way, and they will boost the market later on to make sure you know they are on board. They don't hype up something they haven't bought in themselves. Wink

If they have "bought in big" then you will see very big green dildoes happening before they make the press release, because these giants can move the Bitcoin market easily since the Bitcoin market is tiny.

Just a small percentage of exposure would drive the price to $100,000+. There is no way for these giants to get in without it being obvious, unless they spend years buying small chunks to not raise the price up. The question is, have they been buying these small chunks for years now? who knows, but still, the marketcap is tiny, 1 to 2% allocation and we are looking at 6 figures easily, so they aren't in yet unless small amounts.

1Referee

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Quote from: Pursuer on July 17, 2018, 01:37:17 AM

anything below 10% change, specially when it takes a couple of days to be achieved is negligible. it is not a jump, the negative of it is not a crash either. they are simply small price movements that are normal and you can not say it is because of this or that.

Agreed. People tend to get excited easily when they see their charts develop green dildos.

Quote from: Pursuer on July 17, 2018, 01:37:17 AM

not to mention that BlackRock didn't start anything in cryptocurrencies nor bitcoin. they just started having them under observation.

That's how it all starts.

As soon as these large players announce that they are ready for it, you can be sure of the fact that they have bought in big. Current 'observation' means very likely accumulation time. They are the largest player in the game they play, they know how to deal with every market in the most profitable way, and they will boost the market later on to make sure you know they are on board. They don't hype up something they haven't bought in themselves. Wink

Pursuer

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Where is my ring of blades...

anything below 10% change, specially when it takes a couple of days to be achieved is negligible. it is not a jump, the negative of it is not a crash either. they are simply small price movements that are normal and you can not say it is because of this or that.
in bitcoin if people were really excited about this particular news then price should have jumped 10%+ in a couple of hours instead of rising about 8% within a couple of days.

right now we are simply going back up to where we were before the Bancor hack occurred and pulled the price down because of panic sells.

not to mention that BlackRock didn't start anything in cryptocurrencies nor bitcoin. they just started having them under observation.

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Quote from: Herbert2020 on July 16, 2018, 11:57:51 PM

Quote

BlackRock has set up a working group to explore ways of taking advantage of the cryptocurrency market.

i can only hope that this statement doesn't mean they are going to enter the "altcoin" market and take advantage of the fact that you can easily manipulate them and pump and dump them. there is a lot of money in pump and dumps and ICO scams which can make any firm greedy to enter.

I think it works that way too. They are going to simply make manipulations for favor on their side of course. They would consider themselves lucky to start as early as this year than starting later on while most of the finance companies are busy on the market they are comfortable with right now. If they see that crypto is the future currency, the finance companies are going to move here soon. Three of them are already with crypto JPmorgan, blackrock and the other one.

Herbert2020

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Quote

BlackRock has set up a working group to explore ways of taking advantage of the cryptocurrency market.

i can only hope that this statement doesn't mean they are going to enter the "altcoin" market and take advantage of the fact that you can easily manipulate them and pump and dump them. there is a lot of money in pump and dumps and ICO scams which can make any firm greedy to enter.

BitHodler

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Quote from: exstasie on July 16, 2018, 06:58:43 PM

It seems like they are in the "skeptics" camp, but are being pushed to explore the space as some sort of contingency plan.

Even 1% of their capital in Bitcoin would be a sufficient enough hedge to protect their overall asset value in case something forcing the regular economy down and the crypto economy up.

At some point there will be a time where barely anyone here gets surprised about anything that happens. We're going through something that we probably won't ever get to witness again, so let's enjoy it.

When Bitcoin is the developed asset we think it will or might become, the average person is back to stage 1 of their miserable life. They singlehandedly wasted the opportunity of their life.

exstasie

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Quote from: LeGaulois on July 16, 2018, 04:44:14 PM

It just ridiculous how a small news can impact the Bitcoin price (positively or negatively) Can you imagine what could happen to the price if a day someone successfully hacks the twitter account of the Federal Reserve or IMF and start to tweet random tweets like "We're going to move 100% in cryptos, no more USD and EUR."

But then price would come right back down.

Quote from: LeGaulois on July 16, 2018, 04:44:14 PM

(BlackRock is a hedge fund right?)

They're an institutional asset manager, so they administer lots of funds. Part of my 401k (through my employer) is invested in one of their commodity basket funds. (I guess that gives some idea of how big they are--very big!)

Quote from: DonQuijote on July 16, 2018, 03:33:03 PM

i dont understand, he said: he doesn’t see “huge demand for cryptocurrencies,”

Yeah, he actually seems quite pessimistic on the overall prospects of cryptocurrency. It seems like they are in the "skeptics" camp, but are being pushed to explore the space as some sort of contingency plan.

cellard

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Quote from: LeGaulois on July 16, 2018, 04:44:14 PM

It just ridiculous how a small news can impact the Bitcoin price (positively or negatively) Can you imagine what could happen to the price if a day someone successfully hacks the twitter account of the Federal Reserve or IMF and start to tweet random tweets like "We're going to move 100% in cryptos, no more USD and EUR."

(BlackRock is a hedge fund right?)

BlackRock are the biggest hedge fund on earth moving trillions worth of dollars. If they are smart they will get on Bitcoin and start stacking big chunks, but most likely they still think in dollar terms so they just want to pump it, then short it later, that's what Wall Street does, they pump whatever they feel like pumping, and then they short it.

I doubt they are going to get on it anytime soon. They will need to be forced to do so when they have real fears of a dollar collapse, until then the dollar hamster well continues and they will maximize dollar gains, not anything else.

When giants like BlackRock finally get in, it will be obvious in the price. Just 1 or 2% allocation of BlackRock into BTC will pump the price to 6 figures.

pitiflin

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4% is not bad,sure it is acceptable. Although, you can't be sure why exactly the price rose. There could be millions of reasons why.

Quote from: LeGaulois on July 16, 2018, 04:44:14 PM

It just ridiculous how a small news can impact the Bitcoin price (positively or negatively) Can you imagine what could happen to the price if a day someone successfully hacks the twitter account of the Federal Reserve or IMF and start to tweet random tweets like "We're going to move 100% in cryptos, no more USD and EUR."

(BlackRock is a hedge fund right?)

That shit would be absolutely crazy as fuck. I hope that happens.

And BlackRock is an investment firm/hedgefirm: https://www.blackrock.com/corporate/about-us

Topic: Bitcoin jumps after report suggests BlackRock is getting serious about the crypt (Read 368 times)