It could be all bad and about to get even worse.
The most obvious negative thing about it is the fact that they are buying bitcoin cheap while individuals either ignore bitcoin and will continue ignoring it until it is worth a lot more (like a million bucks) or the individuals don't have enough money to purchase bitcoin now and they'll have to slowly accumulate over time as price keeps rising.
But the less obvious problem could be what they're going to do after they amassed bitcoin... What if some day they started something along the lines of "fractional banking". Like starting to sell bitcoin IOUs to people and sell more than they have. For example if they actually owned 1 million bitcoin but sold 10 million IOUs. What would that do to bitcoin, its price and its future? That is the scary part...
Today they're selling ETF IOUs to people that is supposedly 1:1 but who's to say it's going to remain this way...
Topic: Good or Bad - Blackrock Buying BTC - page 5. (Read 885 times)
If Black Rock saw the value that bitcoin has and decided to enter the game, of course this is very good... The more new money enters the market, the more bitcoin will increase in purchasing power.
Black Rock's customers are generally people who would like to buy bitcoins but don't know how to do self-custody or are afraid to use the network, it will open many doors in the market, it will be good for everyone. The bad side is that governments will try to make people only buy ETFs and not bitcoin on chain
Black Rock's customers are generally people who would like to buy bitcoins but don't know how to do self-custody or are afraid to use the network, it will open many doors in the market, it will be good for everyone. The bad side is that governments will try to make people only buy ETFs and not bitcoin on chain
Even now that the price of bitcoin is still below $70,000, there are people who are still unable to afford a whole bitcoin, which is never a problem and shouldn't be a problem.
Even if Blackrock and other financial institutions want to buy more bitcoin, the thing will still remain the same. You can only reduce the amount you will buy if the price goes all up, just as those who didn't buy when the price was below $30,000 have cut down their budget.
One thing you need to know is that the bitcoin price will always move up above where it is right now, with or without this blackrock purchase.
They are just helping the process speed up a little bit, but the bitcoin price is going to remain stagnant, so if you have money to buy, use the opportunity of seeing it at a low price to accumulate what you can.
Even if Blackrock and other financial institutions want to buy more bitcoin, the thing will still remain the same. You can only reduce the amount you will buy if the price goes all up, just as those who didn't buy when the price was below $30,000 have cut down their budget.
One thing you need to know is that the bitcoin price will always move up above where it is right now, with or without this blackrock purchase.
They are just helping the process speed up a little bit, but the bitcoin price is going to remain stagnant, so if you have money to buy, use the opportunity of seeing it at a low price to accumulate what you can.
So right now it seems the corporations want all of BTC. With Blackrock buying lots and lots of BTC. I consider this a catch 22 and a mix of good and bad.
What are your thoughts on this?
Sure for anyone who hodls BTC and Blackrock buying more, value goes up. so it works for people already holding BTC.
Yet it makes it harder for others not in the market yet to buy more amounts , they will have to consider buying less now if on a budget.
Is this a case of too much too soon? or do you think Blackrock a good thing? thoughts?
What are your thoughts on this?
Sure for anyone who hodls BTC and Blackrock buying more, value goes up. so it works for people already holding BTC.
Yet it makes it harder for others not in the market yet to buy more amounts , they will have to consider buying less now if on a budget.
Is this a case of too much too soon? or do you think Blackrock a good thing? thoughts?
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