Uber can probably make it work in some countries but it's not at a great news for Bitcoin. It will make bitcoin more centralized and eventually big corporates will gain power to control the market. Not ideal.
I consider manipulation to be an inseparable part of markets (whether it be crypto or otherwise) and I see no negative in people/entities purchasing BTC — someone buys, someone sells. At one side we want adoption while at the same time we say no to companies who can bring more people in market.
Bigger pockets always influence the economy, there is no alternative.
Makes sense. If we want global adoption then big companies will surely have to get involved with crypto.
If big companies are getting involved with crypto they will make sure to stay in profits even if they have to manipulate the market.
I think this has been happening with almost every market. Big players usually know how the market will behave when they throw big money in the market.
Blackrock has applied for an ETF and there are rumors that the recent dump in BTC price was because Blackrock wanted to buy at a cheaper price.
Although we can't believe these rumors but from one perspective, Blackrock does have enough capital to manipulate the market.
