Topic: Good or Bad - Blackrock Buying BTC - page 3. (Read 889 times)

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.

huh? That's not the case. Yeah you don't get the bitcoins, but you get the cash, when you sell the shares in the ETF. That's how ETFs work. Everyone buying a Bitcoin ETF knows thats how it works and they are choosing to do that. Nothing wrong with that. ETF customer buys shares of ETF and the ETF issuer uses that money to buy that amount of bitcoin on their behalf, ETF customer sells shares of ETF and ETF issuer sells that amount of bitcoin on their behalf, giving the customer the cash. Very straightforward. There's no problem with it.

My point was that people at least write in posts on the internet about these ETFs as though they think its the actual investment firms buying up all this Bitcoin for themselves (which in itself would also be perfectly okay because ANYONE can own Bitcoin, remember bitcoin is all about being open, no gate keepers, nobody deciding who can own what, etc) but of course its not, its the investors who are buying the ETFs. The ETF issuing investment firms are just the middleman, they have zero say in who buys and how much and who sells and how much. Blackrock doesn't matter at all, because it's not their money. All they get is a tiny cut for doing their middleman service.

Be careful and don't ever follow the footsteps of whales in the market, their single buy and sell order will definitely affects the price of that particular project. To be on the safer side, thoroughly make research and invest either for long or short term. Black Rock have the necessary initial capital to raise the targeted funds to pump bitcoin. This is almost bitcoin halving and anyone that invested early will have in mind of reaping the gigantic profits, atleast they should be wearing smiles on their faces.

Yeah, have a point. Definitely, if big corporations hoard more bitcoin, its price will also increase as the demand goes up, but also, when there's a bright side, there will also be a shadow part or a bad part. For example, if blackrock really wants to buy all bitcoin, other investors will also not have a chance to buy their own, and if one company holds the majority of bitcoin,really wants to buy all bitcoin, other investors will also not have a chance to buy their own, and if one company holds the majority of bitcoin,really wants to buy all bitcoin, other investors will also not have a chance to buy their own, and if one company holds the majority of bitcoin,really wants to buy all bitcoin, other investors will also not have a chance to buy their own, and if one company holds the majority of bitcoin, if they decide to sell all their assets or just some assets, we will see a very big dip or movement in the market. But anyway, we will see what will happen in the market. As you've said, we can't stop them if they decide to hoard bitcoin. Crypto currency is a freedom, so we can't control or stop them. All we can do is also take advantage of that movement.

Yes, we should look on the bright side because even if we disagree, we have no way to stop BlackRock or the big funds from buying bitcoin. And the fact that we always look at the negative side only makes us disadvantaged and does not bring us any benefits.

I also thought that when ETFs was approved, large funds would hold the majority of bitcoin and this would make bitcoin more centralized and easier to manipulate. But I know there's nothing else I can do to stop it, so I'll look on the bright side and use it as motivation to push bitcoin prices higher. I will take advantage of that to make bigger profits instead of trying to fight back desperately.

And that's the problem right there! It is still Blackrock buying bitcoin not the customers. That means you can't go to Blackrock and demand they give you the bitcoins they bought on your behalf. And at some point they may not even buy any bitcoins with your money and yet take your money all the same...

But it can be a problem in future. They will be very powerful and will control prices in future. This will make it hard for future investors to come into the market.

However, not everything is bad about it. There is another aspect that Blackrock buying lots of bitcoins means that there will be more demand for bitcoin. It will mean that prices will grow which will benefit other small investors holding bitcoins currently.

I have mixed feelings as well but I think we should try to look at the bright side of this: having big funds like BlackRock etc on bitcoin's side instead of against, is going to reassure many people that bitcoin is actually something legit and not a scam. It could accelerate bitcoin's adoption. Of course I know that people who are buying the ETFs are (probably) not going to buy and use the actual bitcoins but this is all free advertisement at the end.

When blackrock and large funds sell their bitcoins, there are also 2 cases that happen. Those who bought bitcoin at higher prices will see this as a bad thing as the market is dumped and they fall into losses. On the contrary, those who want to accumulate more bitcoin will see this as a great opportunity to own bitcoin at a cheap price. That's why I often say that everything has its pros and cons. The fact that we have a large amount of capital participating in the market is not 100% good or bad.

Our mission is to closely monitor market developments to come up with appropriate solutions to optimize profits, and that will depend on the mindset of each investor. Not everyone will win when investing in bitcoin, in the battle there will be winners and losers.

On the front it looks awesome.  You see some body purchasing a crap load of Bitcoin and it is making waves into the News and community too.  Could create a lot of FOMO as well.

But there are more negatives in my opinion.  The inside of this situation is rotten, opposed to how the front looks.  I can not take some body owning a HUGE chunk of the Total Supply of Bitcoin positively.  This can have dire consequences in the long term.

Sure.  Not all of that is theirs.  Only a very insignificant part of it.

But some body holding this much Bitcoin on their hands is still a very dangerous situation.  See Banks.  Are we not trying to run away from Banks and how they function?

Anyway.  Where there is money to be made, the big players will be present all the time.  This includes Blackrock.  So as much as I hate it, there is no where to run from this situation.  Fools will sell while smart people buy.  Unfortunately the big players never seem to become the Fools.

I feel like this topic has been beaten to death already with all the ETF / Blackrock threads since this year and even going back to last summer.

But let's be clear. Blackrock is not buying! They are buying ON BEHALF of their ETF customers. People keep talking about ETFs like it is the handful of investment firms that are buying up all this Bitcoin. Yes, they technically are the ones buying, but they are doing it with customers money, on the behalf of customers. So it isn't Blackrock buying up all this Bitcoin, it's myriad investors in the TradFi markets that are buying up the bitcoin through the ETFs.


Secondly, "it makes it harder for others not in the market yet to buy more amounts"...well, that is the case anytime anyone buys Bitcoin. If you follow that line of thought, then nobody should ever buy bitcoin because it'll make it harder for other people to buy bitcoin, therefore nobody owns bitcoin and it is worth $0 and doesn't exist anymore.

There is no such thing as too much too soon. Bitcoin reached a mainstream global audience 7 years ago! So the average person has had 7 years to buy Bitcoin. It isn't the TradFi investors who are buying bitcoin through the ETFs fault that the vast majority of people still don't own bitcoin.

The purpose of Bitcoin is not for everyone to get a great deal on Bitcoin. It's a currency - the purpose is to own it and use it. Everyone is able to choose if and when they decide to buy Bitcoin. Everyone who has wanted Bitcoin before the ETFs opened up Bitcoin to the US TradFi world already bought it. The ETF buyers are market participants just like anyone else (though of course they aren't holding bitcoin itself but holding it purely as an investment through a financial product). The people who haven't yet decided to own bitcoin don't get some sort of preference to get to buy it before TradFi people lol. If they wanted to buy it already they would have.

That's a token, not even an actual cryptocurrency and it is just another shittoken like thousands of others with no actual potential whatsoever. If you check out its chart you can clearly see that it also had its moment in the sun after its creation 3 years ago and it has been dumping ever since and staying dead until the recent fake hype with Blackrock that slightly pumped it.
The best one can hope with shittokens like this is to see some fake hype leading to small pump. They are never good for "investment" though. Just for very quick pump and dump.

BlackRock and other organizations in the BTC spot ETF space aim to be the major controllers of the market and there's no way they won't be sooner or later because some naive investors choose to invest in their spot ETF rather than making themselves responsible for their BTC holding through self-custodial.

Having said that, the organization's (BlackRock) accumulation of more BTC will increase the market greed level while the disadvantage is that the chance of market manipulation will increase and institution banks will be in charge of 99.6% of their service.

The organization accumulation does not make it hard for anyone who wants to join the market and for the record, the US Government has an auction of Billion of dollars worth of Bitcoin and there's no way this auction will take place that it wont impact the market price.

This isn't the problem. The problem is that BlackRock will have too much supply of Bitcoin on their hands, what means their influence inside this market increases a lot, giving margin to price manipulation. They have already done it recently, crashing Bitcoin price right after the ETFs were approved by SEC. And that was just a sample, as they had potential to do a much deeper damage to Bitcoin.

It's never good news that whales are mass acquiring Bitcoins, as it will increase their power and decrease the participation of autonomous average investors in the total supply. Another example is the speculator Elon Musk who adopted BTC through his company Tesla, boosting BTC price considerably, but right after talked negatively about Bitcoin harming the environment, dumping Bitcoin price as consequence.

What these whales want is that Bitcoin becomes an hostage of their greedy financial goals.

The moment that institutional investors starters putting their money in is the moment that we never should've welcomed before, it's already too late for what we're expecting to be the result of this, we will eventually see what's going to happen next anyway, Blackrock's basically have an unlimited supply of money so I don't know if they're not going to use it to their fullest, they know that if they buy bitcoin, they can easily screw over the retail investors and we all know how good they are with that part, pretty sure that we're going to see that happen anytime soon, make sure to continuing hodling.