Topic: Good or Bad - Blackrock Buying BTC - page 2. (Read 752 times)

BlackRock buying Bitcoin has two sides to it.

Firstly, It gives credence to the technology and awakens the interests of investors to look that way thereby creating liquidity in the space for transactions to be facilitated, even though the space needs to single entity to validate it.

Secondly, it gives the space the fear of manipulation, since the supply of Bitcoin is limited, Whales have the advantage of manipulating the prices to their own advantages, and they can do this as often as they want since they are the bigger player with a bigger chunk of the liquidity.

In the short term, Blackrocks buying of Bitcoin is good for the market and Hodlers as this translates into price soaring and more people believing in cryptos, but the unfortunate issue we not talking about is that one entity will control how bitcoin will grow once they have the lion's share of coins and I don't like it!!!
Tbh, if it were up to me..I would limit the number of coins one person or entity can owe at this point to try protect the markets in the long term to avoid market manipulation etcetera

As a business, I think they are trying to make sure they have enough Bitcoins to accommodate new investors coming for the Bitcoin spot ETF's..which is a good thing but should they derail from their vision then it's a bad move!!

Exactly.
But I don't see need for panic as Blackrock is buying more BTC for her investors. They are in the market for profit making, giving room to the public (clients) to invest in the market with the fate of making profits off there investment, thus can lead to bitcoin rise overtime because of more players into the market and the concept of supply and Demand.

Only few of the general public have understanding about how bitcoin system works, and the implication of investing in Bitcoin market through a third party system which is the only reason some members of this forum careless.

No doubt we all believe and practice  Self-Custody but most new players don't really understand and would rather prefer investing with  big investment Company like Blackrock.

Generally, a larger company, even something as heinous as blackrock buying into the bitcoin narrative and the crypto industry spells good news for the industry, and what better time than have it coincide with the upcoming halving and crypto bull run, which is why some people in here think these ETFs are what's going to be the narrative for this season's bull run. So in a manner of speaking, it's a good thing and we could expect bitcoin increasing in value over time.

However, since the market's gonna be opened to people who generally have little to no idea with how crypto works, we could expect a lot of panic buys and sells coming our way, so pretty sure this season's going to be a really tumultuous bull run for a lot of us. Add to this the fact that this is yet another outside power trying to use bitcoin for their personal profit, and we got ourselves a not so necessary evil coming our way, making a general mess of the whole crypto situation.

Oh well, I reckon it's gonna be time until we find out if these ETFs are for keeps or if they're going to pull it out once they figured bitcoin's too decentralized for them.

Blackrock entering the cryptocurrency market, primarily Bitcoin is only good for the industry as a whole. It allows retail investors who have feared actually needing to hold their own cryptocurrency, easily enter the market, but more important it allows institutional investors (pension funds, etc) to consider adding bitcoin as a 1% allocation or more to their portfolio for diversification purposes. This could easily bring 1 trillion USD+ per year into the market, pumping Bitcoin even further. We will just have to wait and see.

That's actually the problems!

If Blackrock keep buying Bitcoin, it means Blackrock will own all Bitcoins except there's person don't want to sell his coins at any price. After that, Blackrock can do anything with the coins, they also can force people to only buy their fake Bitcoin i.e. ETFs and forbid people to withdraw their coins to exchange or wallet.

It makes everyone who want to buy and own Bitcoin must buy ETFs instead of the real Bitcoin.

the thing is that if a black rock purchase more of Bitcoin right now that will affect a bitcoin increment because there will be a massive adoption in Bitcoin and that massive adoption enhance the Skyrocket of Bitcoin increment so therefore I believe that bitcoin increment can take place, certain time I think it was Amazon that accept a payment with a Bitcoin that period of a time the price of Bitcoin changes based on they have adopted a Bitcoin so there's some people who will invest in Bitcoin or who will adopt a Bitcoin there will be a massive increment in Bitcoin.

the thing is that bitcoin price cannot be regulated by individual or anyone it can go up based on adoption of people or company because once more companies are coming in into bitcoin existence or bitcoins life the more the demand is getting high because it is didn't demand that controls the market of Bitcoin and then when the demand is higher than the supply the market Skyrocket to more than anyone's expectation that is why we continue to say that adoption helps for bitcoin increment.

actually the Bitcoin price has already gone up before the black rock of a thing but the problem is that if Black Rock purchased more of Bitcoin or any company purchase more of Bitcoin that will make the demand of Bitcoin to be higher than the supply so therefore I believe that the price of Bitcoin to increase more and more.

that is good experience of you because it is obvious that the more investors are coming in Bitcoin the more the price of Bitcoin is appreciated so investors or companies next the price of Bitcoin to Skyrocket and it is when the the demand will be high so once there is no investors in Bitcoin they demand is going to be low and it is supply will be higher than the demand so definitely the price of Bitcoin is going to be cash based on that, does not know why the price of Bitcoin always increase and the sometimes the price of Bitcoin always crash the increment of price of Bitcoin is based on demand why the fall aspect of Bitcoin is based on supply.

BlackRock is a very influential and powerful investment company. SEC confirmed Bitcoin ETFs because there was pressure from companies like BlackRock. Their involvement is good for making Bitcoin more popular, adopted and expensive. Expensive Bitcoin means higher profit for early holders but this massive adoption and an open door with BlackRock comes with one disadvantage and that's the slow centralization of Bitcoin. When centralized companies offer centralized services with Bitcoin, we are losing decentralization and Bitcoin's main value is decentralization. It doesn't mean that centralization will make BTC cheap but the problem is that Bitcoin will not be a good payment method.

This is the financial market and what we need to do is create the most profit for ourselves, not thinking too much about things that we cannot change or intervene. Similarly, in addition to blackrock and funds entering the market, governments will also soon introduce regulations for bitcoin and the entire cryptocurrency market. What else can we do to change that? We can't do anything but keep quiet and follow the rules. So instead, let's adapt and think about what plan will benefit us the most when those things happen.

It may not be right to call this situation good or bad, as you say. I think we will see how this situation will be in the coming years. For now, everyone knows the answer to the question of Bitcoin's recognition or whether Bitcoin will bring profit. Bitcoin proved itself a long time ago.

There will always be institutions that look at Bitcoin only to make a profit. Bitcoin is an investment tool that every person and institution can access. The positive or negative effects of the actions of these institutions emerge later.

I think Blackrock entering in to the space has been inevitable, something that I believe brings both good and somewhat not so good things to the bitcoin space.  One the "good" front, being the largest fund manager on the planet, they've got a whole lot of clients with a whole lot of cash on hand, which as we can already see is going in to bitcoin a furious rate.  I think these ETFs were a major milestone in bitcoins evolution.

I actually agree with you. As I've said, this is more bad than good. Off the top of my head, it seems there are only a couple of good things that we can get from it. One, of course, is the price growth. Second is the acknowledgement of Bitcoin in general.

Opinions can easily change. At least with the participation of these huge institutions, the herd, the majority of the people, are convinced once and for all that Bitcoin isn't a Ponzi. This might just be the first step. At least they're now embracing Bitcoin. Sooner or later, they will understand it a little better and time might come when they will eschew all this centralization and custody and IOUs.

It's a good thing because what we've seen before, they're starting to see it right now. The worry is there but this is normal because even before, we've been thinking of them trying to get into this market but it took them years to realize to buy it.

IMO, they've studied well on this matter and whatever the rich institutions are buying, that's the key and sign on what the retailers should go. It's that we can think of it that they're doing the favor of research for us.

However, don't think that they'll hold forever as they need to make money at all times.

They wanted to have these financial actors operating with bitcoin and it turned out that now they have fear or doubts, it is what a large majority wanted, the issue is not having them buying bitcoin, it is that they are doing it at a very convenient price.

bitcoin with these active ETF companies should be priced at at least 100k, but it turns out the price is stuck at +60k.  That is to say, they are buying at a good price. Hence, the question is, whether with 100% profits they will hodl.

Well I see it mostly bad! I don't care if that's the way for Bitcoin to get acknowledgement. because the more acknowledgement it gets, the most regulations and taxes are imposed by various governments. So I honestly think Bitcoin is great as a parallel economy. The moment it tries to become mainstream, companies like Blackrock jumps in and start buying in bulk so that they can control the market. That's not good at all!

People need to understand that Bitcoin is a great innovation. It doesn't require acknowledgement of financial conglomerates or governments. otherwise things will be ruined for commoners like us.

As in everything else, this is both good and bad. Surely, this isn't entirely bad, but it isn't entirely good either. But it seems to me that if we put the good and bad on a scale, the bad might actually be heavier.

It is, of course, good that Bitcoin is acknowledged, but how? Acknowledgement but only as a speculative asset means this kind of adoption is indeed both good and bad.

Anyway, BlackRock isn't planning to buy everything. BlackRock is just an asset manager. It doesn't necessarily own what it keeps. Also, BlackRock probably doesn't care about Bitcoin itself. It only cares about making money. And if there's a way to earn from Bitcoin, then it wouldn't bother recognizing Bitcoin's popularity, but not its essence.

Black Rock is a newest participant in Bitcoin market and they are a newest market maker in this market but if you check Bitcoin market history, you will see many big names like Black Rock in previous cycles.

Jihan Wu (Ex CEO of Bitman), Roger Ver (from scam Bitcoin Cash), Arthur Hayes (Ex CEO of BitMEX), Chanpeng Zao (Ex CEO of Binance) and more names like them. Back Rock and Larry Fink are newest ones but they will not be the last. They can play important roles in this market cycle and contribute to Bitcoin adoption, mainstream but in future, we will see some names that are bigger than Black Rock.

Just wait, they will come with us because Bitcoin is here to stay and will become stronger with time.

The positive side is that Bitcoin is accepted among institutions and large investors, but the negative side is that they are able to spread more negative news thereby making the price fall and then buying cheaply. Blackrock media power is very influential and evident before the ETF approval, they easily tried to confuse retailers who were forced to sell due to the issue. This becomes a kind of control and I don't like them controlling Bitcoin in a dirty way. No matter what they are planning now, the impact is clearly very easy to manipulate and spread concern among small retailers. That's based on my views before and after the ETF was approved. The more we come here, the more we worry that Bitcoin cycle is no longer healthy.
Indeed, Blackrock only acts as a mediator for investors who want to invest in Bitcoin, but they also need the profits from this service. Logically, with the media power you have, it will be easy to do this to your advantage when you want to fulfill investor requests.

But they are just investors, they also need profits, and to get profits they cannot just buy, buy and never sell. So, there is nothing wrong or it would be foolish if someone decided to sell their bitcoins after they have reached their profit target. I bet you, sooner or later after collecting enough bitcoins and enough profits, blackrock will also sell their bitcoins, will you call them idiots then? Long-term holding always brings good returns for bitcoin investors but that doesn't mean we should never sell our bitcoins.

I don’t think we should look who’s buying to determine if we will buy more or not. If you have the funds and want to invest, just do it. This is one of the problems with being a short term investor. You’ll be cautious not to step in at the wrong time and all of that. But if you’re investing for the long run, you don’t have to worry or fear because you believe that it’s just a matter of time before you make those gains.