Topic: Will Blackrock control BTC? (Read 814 times)

They're trying to control the supply of Bitcoin, but that doesn't mean they're going to control the Bitcoin you are owning, so it's not something that's going to affect us in the long run. Any valuable asset must follow the law of supply and demand. You should remember that they need to control the supply of Bitcoin to serve their ETF, if they make the price of Bitcoin too volatile, it won't do them any good of selling Bitcoin ETF to retail investors like us. I think they are trying to control the supply of Bitcoin to help them become the largest Bitcoin ETF Fund, and knock out the remaining competitors, thereby regulating the market development in a more sustainable way. Helps retail investors feel more secure with this type of asset. We are just small investors so we should not go against them. Instead of paying too much attention to what they are doing, we should try to accumulate as much Bitcoin as possible.

Blackrock seems to be very interested in participating in bitcoin's activities,and it seems like most persons are not happy with this blackrock intentions and exposure in the crypto industry.

BlackRock had previously launched a blockchain-themed ETF, a clear signal of intent,and since then,blackrock has announced their partnership and involvement in the crypto industry.

I don't think they have bad intentions in trying to be noticed and popular through the crypto space,Although,many people admire,proceeds and anticipate the positive influence of blackrock in the crypto industry.If blackrock is aiming at an inappropriate dominance over bitcoin,I think they should reconsider their subjective intiative.

If miner still want to mine bitcoin, I dont think they can control BTC. If the miner condition still like today posts, so they dont have a power to takeover network. But in the future, the possibilities always there.

If we talk about controlling price, they can do it. Or maybe they already made it, not using their company or affiliate company but using their agents

I think perhaps the poster who was concerned maybe saw the new influence that Blackrock is pumping into BTC such as the new job listings they have posted, among others, for "bitcoin core developers" Although this is just a hunch but I could be wrong .I also agree with you I think a lot of people are confused and most are truely unsure of what an ETF even is lol.

I don't think there is anybody who can control the bitcoin network or even the market, and that is how it was designed. Regardless of someone's reputation in the crypto space today, there is no way you can control the bitcoin network or even the market, and that is how it was designed. Regardless of someone's reputation in the crypto space today, there is no way you can have control over it, and holder like an investor like other people do, and Blackckrock you are singing about is just a bitcoin holder like other people, so regardless of someone's reputation in the crypto space, I'm not sure if the bitcoin network or even the market can be controlled by another person, and that is how it was designed.


exactly, they can manipulate because they hodlbitcoin more than what we are thinking, so this is the only thing they can do in the market because the price of bitcoin is all operating on their own, so the only thing I think may give them the mind to manipulate is by giving bad news about bitcoin, and if they invest, people will sell out their invested coins. If they invest, they will sell out their investments during the bear market since they hold large amounts of money to secure their money. So people will believe because they are the only ones, yeah. 

That is actually good logic looking at this scenario. I don't think any company will act to ruin their image in the market. They are holding other people's assets, so they would want to build an image that they are really considering the long-term scenario for their funds. If they will participate in wash trading or whatever manipulative trading they can do, people will talk or see and so the trust may be questionable if they can really handle their money.

Let us put it this way, it is not in their best interest to manipulate the btc market. There will be repercussions that are of negative impact to their business, so I don't think they will do this to their own detriment.

They have enough Bitcoin to manipulate the price to an extent but that does not mean they can control Bitcoin because no one can do that. They can achieve price manipulation by selling a large part of their Bitcoin followed by a tweet about their decision. This will trigger other holders to start panic sell, and they might decide to buy again thereby returning the price to the original price, this is how they will be able to manipulate the price because news is very important in Bitcoin. Many big whales do this in various markets, they are not loyal to anything, just the profits is what they play for.

Huge guys like Blacrock and Microstrategy will always have the means to control bitcoin's pricing but not its network. Also, it will be foolish of them to do so. Just imagine manipulating something that makes you money and the whole world seeing your actions? See how everyone lose trust and the value plummets. These institutions know that such actions will lead to distrust and loss of confidence from the masses. They will be left with paperweight the moment people know that they are cheating bitcoin. Price manipulation may pass, and people might just stop trading until the dust settles, but direct network manipulation? That's burning your own assets in hopes of making more.

In terms of the amount of ownership supply it might be true that they will be the most holders of the purchase allocation but I am not sure they can control bitcoin fully. If we are too worried about these people who will control everything then I will see that the market process will be determined how the demand and supply are interconnected. The possibility of full control cannot be done and maybe they can manipulate the market under certain conditions and my assumptions do not go according to what is planned.

I believe enough that Blackrock, ETF and other companies only care about business to generate profits, then why are we too worried about the full control of the bitcoin they have. Because there is no way to control fully because Bitcoin has a much stronger nature to defend ourselves so that today we see its power is far more developed than some assumptions regarding control.

I personally think that since they have a huge amount of bitcoin holdings they can manipulate the market lightly for a while but no one has the power to control the overall bitcoin. Because it is based on decentralized peer-to-peer ecosystem. Satoshi Nakamoto's intention was to employ a currency without any central control over which only the owner of the wallet would have control. And if you look at the supply of bitcoins 21 million, we have received 3 million as gifted, which is thought to be lost. So around 18 to 19 million will spread over the whole world's people. And the more people adopt it, the more powerful Bitcoin will be, and it is happening day by day. But the concern is that Bitcoin is a decentralized eco-system but Blackrock is centralized. And many people are opening their accounts here with their own personal information, creating some obstacles to decentralization.

What you should know is this, the ETF market depend on real Bitcoin, if Bitcoin doesn't move, there is no way for Blackrock and his boys to.make profits. So for the Bitcoin ETF price to pump, Real Bitcoin must pump and that's going to be a win win for the two Bitcoin coexistence and that means Blackrock must have whales that controls two or three centralized exchanges who are large with liquidity for them to control the Bitcoin market and everyone who trade bitcoin, they need to drag everyone with liquidity available.

On the dominance level of shifting Bitcoin from decentralized assets to centralized assets, that's depend on what other rich wallets do when they notice there is a sign of Bitcoin becoming centralized and I doubt if Blackrock will try to out smart the rest of the market because I know one thing about Bitcoin, anytime a person is trying to prove they are smarter than others in the Bitcoin community, they cancel them until they become irrelevant. Terra Luna use to have thousands of Bitcoin back then but today, where are they? In the prison for manipulating the crypto market.

Why are you so short-sighted? why does bitcoin need influencers to trade? bitcoin doesn't need it but we are the ones who need bitcoin, for an investment place and for a place to store wealth without the intervention of any third party, only we ourselves can access our wealth. even when blackrock exits bitcoin or elon who you think is a bull doesn't care about bitcoin, bitcoin will not be affected and the bitcoin network will continue to run and adoption will continue to increase along with technological developments.

But these bitcoins don't belong to Black Rock, they belong to the people who bought ETFs... If everyone decides to sell their ETFs, Black Rock won't even have 1 BTC in their accounts... So, Black Rock's control of the currency is something that doesn't make any sense.

I have seen the bull run but did not enjoy the results of this bull run. I have invested my bitcoins to hold for long term and I hope someday I will definitely get a lot of success. But those who invested from deep dips today have seen a lot of success in their investments and are feeling very excited. I have always used the DCA method of investing because of which I have had more success and I have been more excited. I don't know what will happen next but I expect to see more success and be more excited in the next bull market.

No one can control bitcoin no matter how much coins they have. I think rather
than companies, we need to start thinking of the governments. I also don’t think
they have the ability to control bitcoin as a whole but they can definitely implement
rules and regulations that would force their citizens to obey.

If it’s about price, well there’s a lot of whales in the market and they are
careful enough to use different strategies as to not disturb the entire market
when they are buying or selling.

Im not worried about Blackrock or Microstrategy per se, or any of the other big players in the field, what is to consider is that they all fall under the same jurisdiction, the US jurisdiction. That is to say, they all have to follow US laws. So if the government decides to push for X or Y or Z fork that contains some feature they want, they would be forced to comply or else face penalties. At that point they either fold or move their business elsewhere. Here I can see Saylor winning since he has a lot more leverage in the full sense of the word when it comes to choosing how and where they run their business. With Blackrock im afraid they are stuck, if they aren't US agents since day 1 that is.

They are just selling the news for the bull market, wait till the bear market and you don't hear anything from them again. It's the money market a lot of things go around when the price push is here. We need some influencers that make bitcoin on the top of the invesment magazine every time now, last bull was Elon Musk.For some people all these news are signals to take a position and move out.

But Blackrock is not a government, they are just investors like us . And what investors need is profit , so blackrock just being able to manipulate bitcoin price is enough for them , I don't think they want to control the bitcoin network. and if you look closely, why are they trying to kill Binance but they are trying to promote Coinbase and want Coinbase to grow globally ?

People with a lot of money will always find ways to manipulate or do anything that benefits them, if we were them, we would be like them. So I wouldn't call them greedy people because we are no different from them . Who doesn't want to have a lot of money, who doesn't want to own a lot of bitcoin ??

What's good about this market is even if they send the market down, it will eventually going to recover. What I like about Bitcoin is its resiliency. No matter what they do to make the market dump, there's always the tendency that it will recover so fast.

We've seen it many times and that's why I am not scared with these institutions getting in the game because many have even thought of that long time ago when bitcoin was just nothing to most people.

Now that they're here, we can't do anything but to embrace the actual situation and changes.

No and it will not control all of the bitcoin simply because Bitcoin itself is decentralized there are dozen ton of people holding bitcoin right now and there are diamond hand too.

and everything back to supply and demand and when blackrock has a huge supply but no demand the coin will be worth less tho it is impossible at this point.

so no Blackrock maybe only hold huge amount but not gonna control all of it

That's what you think, now let me tell you a little about what control is all about, Blackrock doesn't need to own the blockchain or claim bitcoin to their name or even have the power to change the way bitcoin has been operating but all they need to do is have enough power to influence the market,  price and if they ever get to own enough bitcoin they could well start controlling supply and demand of bitcoin and as we know it or decided to turn a blind eye on it that is their aim and don't think big players come in to be benefactors they come in to have power in the game and soon that power would forever leave the hands of retail investors to their hands or rather It has already left long ago, remember when Grayscale literally caused a dip by selling massively didn't that give you an idea of what they can do owning such percentage of bitcoin. From this moment on we should have in mind that bitcoin can be manipulated, and don't think Blackrock just had interest in bitcoin without having some motive of their own, think again.


Like someone who actually gets this, very soon it would big players vs retail investors and I Don think we have that power to play that game, they could cause a dip that can shake everyone's hands and raise the price up so high, just by manipulating the supply and demand of bitcoin besides that have the quantity to do so.

The only way I see that this might not happen is if they are afraid to lose their holdings to other big players that would be more than ready to by what they have sold. That way we could have quite the balance but this would only work when they are two companies have equal shares of bitcoin or almost same amount.

They're more into the actual holding of more supplies than ever and it has been planned by them. They'll start to have big influence over the market by doing so.

I'm afraid that this might result into actual manipulation where in we've been talking about manipulation years ago and now this might come into reality that we know some institution that can actually do the thing.

Bitcoin isn't a stock, and it isn't as if they can push their liberal agenda by voting their proxies and controlling companies' board rooms and such if they buy a whole bunch of bitcoin.  I don't see a huge risk to the bitcoin community in general but a risk to Blackrock if they somehow bought so much that they painted themselves into a corner, i.e., they wouldn't be able to sell it all if they needed to without crashing the market.

I'm way more concerned about them owning too much stock in too many companies.  That wouldn't trouble me at all if I didn't detest their politics and their ability to influence corporations to toe the line when it comes to DEI and who knows what else.  As far as bitcoin or any other cryptocurrency goes, let 'em buy all they want.  It'll either be bad for them or really good for us.

How much do they own right now? 1% of the supply?
Why are you worrying about them controlling bitcoin if they don't even and probably never will own more than 10% of the supply?

Let's speculate though. What makes you thing that controlling 50% of the supply makes anybody gain control of bitcoin. You gain control over the price, but you have no control over nodes and the other 50% of bitcoin owned by private investors. Buying bitcoin does not make you buy the network. Blockchain and nodes don't discriminate. You can have 1, or 1 million bitcoin and you're treated equally.

A person or an organization holding a certain percentage of the total supply doesn't give them control over the cryptocurrency or its network, so even if Blackrock holds a large amount of Bitcoins, they wouldn't be able to control it, if you talk about the market manipulation, they might be able to do that if they move all their assets in the market and then use them to create buying or selling walls with them but that isn't going to happen because that is not what they are hoarding Bitcoins for.
So I don't find anything concerning in this. Maybe you heard about the 51% attack but that is done through mining and not by holding Bitcoins and that is a different thing and it is not easy for any firm to gain access to 51% or more mining power.

At first, I was happy that the US Secretary of State approved the bitcoin spot etf recently. But after a few months of approval from the institutional investors who gave their applications, I felt worried that the time might come when all or most of the bitcoins will be the ones who hold them and only a few investors like me who are not rich enough to hold them.

But I discovered that it will not lead to that because there are still more investors who save bitcoin for the long term to hold them for a few years for the future of their loved ones. In short, I don't believe that whale investors can control Bitcoin because they are regulated business types, and we know that one of the best features that Bitcoin has is that it actually has decentralization.

Market capital has increased to a large extent due to ETFs. Moreover, the total assets of investment platforms like Blackrock are more than the total cap of current cryptocurrencies. As far as I know their total assets are around 9 trillion while the current crypto assets are around 2.89 trillion. So we can assume that they can turn it bearish or bullish if they want. But no one has the power to control Bitcoin. Investing more can change demand but never control the entire network or Bitcoin. We expected a correction especially when Bitcoin overcome previous all time high but the market is still in a positive trend mainly due to the effect of ETFs. Halving and ETFs are going to have a big impact on the market in 2024.

There are no people controlling the BTC network.
'Governed' is the wrong word to use, the BTC network is not governed by anyone, there are no stakeholders. Miners, developers, etc, do not govern the network, they are a part of the network and everyone is free to be a part of it. It is also worth mentioning that miners do not validate tx's, it is nodes that validate tx's, while miners confirm tx's.

   Bitcoin cannot be controled by Blackrock. Blackrock is the world's largest asset manager,which makes available investment advice and risk management solutions to agencies,big firms and business associates involving trust to it's clients.
   
   Blackrock involving in Bitcoin are share holders, that is they are investors,since they are investors does not mean they will control Bitcoin because Bitcoin already has people controlling it.

   Bitcoin is been governed by several stakeholders which includes miners,developers and the users.
Developers are responsible for the writing of the code that makes Bitcoin run, miners validate transactions while the users make the software to work which involves trading,transacting, holding and several others.

   Blackrock ETF is a special type of ETF trails the price movement s of Bitcoin and for you to invest in Blackrock Bitcoin ETF, means you have to buy shares with money giving room for traditional and regulated means gaining attention to cryptocurrency market .

If retailers continue to sell Bitcoin because the offers made by institutions are becoming more aggressive, then in terms of ownership Blackrock will definitely control it, just like gold when Blackrock entered. Sometimes I also feel skeptical about releasing Bitcoin ownership on the market and then it falls into the hands of institutions, but that is only our concern because if we sell it we will not get the same price as when we bought it, thus cornering other parties in this case Blackrock, even though it is possible Blackrock intentions are good to facilitate investors who want to invest in Bitcoin but store it using a third party, as a result Blackrock provides an ETF solution to bridge institutional investors to Bitcoin. So Blackrock is just the front and what you need to worry about are the people or investors in it.

What do you mean by "control"? Do you think that Blackrock will decide which BTC transaction on the BTC blockchain will get approved and which one will be denied? This simply cannot happen. Having a large amount of BTC or owning lots of BTC mining capacity doesn't mean that you own and control the Bitcoin blockchain. Why would Blackrock want to control Bitcoin? What's their benefit from this "control"? If Blackrock manages to pump the BTC price to 150K or more, this would be a great benefit for them, but it will also be a great benefit for all the Bitcoin HODLers as well. Do you really think that Blackrock would want to crash the Bitcoin price, just because they want to "control" Bitcoin?

This people are smart, I don't think that they will just off load their shares and sell and panic the market. On the other hand, they will continue to buy. But I don't think that they can control it, Bitcoin market is too big already. It's open 24x7 and it's more on the retail investors who buys and sells Bitcoin at any point in time.

Maybe they will take profits for their clients and for themselves. But with the incoming bull run, I think the case will be is to buy and then HODL and we will see what's going to happen in 2025 when we hit the top price.

Is true though and coinbase have been in war with them for quite a while. I believe that the exchange will win with any allegations that come in. That's why I just use Bitget that is on the surface with no issues, you know to be on the safer side and watch what these men are doing


I can't deny that either. The day I sent this news, I had been watching BTC for a while, following my instincts because I knew it would rise. I just wait for a particular price it will retrace then set my long.

Honestly, I have been enjoying this bullish trade with the event I mentioned and I hope to get the 30K prize as promised. Aside from this, I won't keep my guard down on these men still but I believe what y'all said

Binance is not only target of governments but the exchange is one of most favorite targets because it is big and has good income. Governments aim at Binance with hope that they will bargain money from Binance exchange.

You see they tried to suit other big exchanges like Coinbase, Kraken, Kucoin and more, not only Binance.

They want money from business tax of those exchanges and if they win lawsuits against centralized exchanges, very first money they get will come from lawsuit fine fees.

I think what you mean with this situation is that they have major shares that if decided to unload their holdings, would be impactful within the market. I think if BlackRock decides to just HODL it, it would be ideal for the community because it for sure, wouldn't be sold. It's just the assurance that we all will see.

Unless something were to happen, it would stay at its is. I think that would be the case.

For my view, this Blackrock is undeniably one of the whales in the market that can affect the movement of the market in the price value of Bitcoin, but it doesn't mean that it can control Bitcoin; it is unclear what will happen in reality.

First of all, how can Blackrock control Bitcoin because the nature of Bitcoin is decentralized while this Blackrock is under government regulation, right? That means no single entity controls it. It's game over here. The only thing I see Blackrock doing is that it will help raise the liquidity of bitcoin in the market.

Well, for obvious reasons. To control people's money. Why do you think the governments are against us using the exchange to save our money? and why do you think Binance is always their target?

But is true that what we have always been after is the manipulation of price but these big men "most,"  are too greedy. They might think they have won, but is good to know that other good exchanges like the one I mentioned are in existence so I don't think they will have much power after all


This too. I'm not gonna lie but I have made a good profit from these ETFs types specifically from that Welcome to bull run event I joined. Imagine BTC getting to 72K when is not yet gotten to its halving stage all we need to do is long the market and leave sooner even the halving date is so close

But my question is why do they need to control the bitcoin network ? They are an investment fund and their main goal is profit so they will manipulate the price of bitcoin and that is what they want . I think they don't care about the bitcoin network or the outstanding features of bitcoin like decentralization or privacy...what they want is just the price of bitcoin and how they can make maximum profit from it.
We always talk about the bitcoin revolution, the decentralization of bitcoin, but what we care about most is the price of bitcoin, we are just like them but not too many people dare to admit this.

The worst that Blackrock can do to Bitcoin is to sell their bags. That would drag the price down hard, but Bitcoin would bounce back in a short time. The ones who would be tragically affected would be the people who bought their ETFs. But such a scenario is unlikely. Possible, but unlikely.

The faith in Bitcoin might take a hit too, so there might be a crypto winter if something happens to the other institutions.

But even if all that were to happen, I still would not sell my bitcoin for fiat.  

I just read that Blackrock does have more than Microstrategy. If I'm not mistaken they have 195,985 BTC. They are currently one of the largest owners of Bitcoin. So to make it centralized to be able to control Bitcoin does not seem to be possible. Because large Bitcoin holdings are still in a separate state. But I feel confident that every Blackrock fundamental can affect the atmosphere or movement of Bitcoin. But I have hope that when large institutions have entered bitcoin can maintain value for the better.

Exactly.
They hold more Bitcoin currently and have the biggest share, I think they can influence bitcoin price but not necessarily the bitcoin network.They only are investing rapidly into the market and thus expanding the bitcoin ecosystem but the bitcoin network is entirely out of the control of anyone or organisation.
 Blackrock aim is for profit making not taking over a network that is decentralized.

Bitcoin is a global network and a global community, you can't control that. They could try and they would fail, but I don't see any indication of them having any such intentions. They are not dumb, they know that it would be like shooting themselves in the foot and for what? Bitcoin would cost a fraction of todays cost if it was centralized and controlled.

And I don't even think they can manipulate the price for long term. Remember the bear whale? That's the risk for anyone who would try to manipulate the price, no matter how big they are.

I don't think anyone can manipulate the market, even if they have a lot of BTC's stash. They maybe make a dent, but not really significantly influencing the movement of the market. This is why btc market is different from most alts. Because of huge market cap, you need a lot of large btc holders to come up with a plan to influence the market and create even a small wave.

Whereas, most alts with small cap, dev teams behind it can manipulate their market via wash trading as they only need small capital to make their market increase like 100x, 1000x and so on. But if you will look at it, they are just using their own funds to make the trading seems active.

Holding a large number of BTC doesn't mean they can control Bitcoin. I admit they could manipulate the market if they wanted to, but due to low enforcement, they might not. Because all the ETF brokers are approved by the SEC, if they do something suspicious, the SEC would suit them. On the other hand, due to the decentralised behaviour of Bitcoin, no one could control it anyway. However, due to ETF, more money is flowing into the crypto market, hence Bitcoin pumped so hard. At the end, of course, everyone will liquidate their Bitcoin when needed, and new investors will enter. This is a normal procedure and will continue forever. 

I'm not really sure.
A large amount of Bitcoin is in the possession of a trader whose sole interest is price oscillation and making a profit from it. Maybe they don't have that much strength for sensitive manipulation right now, but they are moving towards it.
I agree with the OP statement that this ETF, Blackrock crap is not a good thing for Bitcoin in the long term

Big players like BlackRock getting into crypto sure pumps up the excitement and short-term gains are sweet. BlackRock might be stacking up on Bitcoin but they can't call the shots on the actual network. Their investments in big mining companies and successful ETF moves show they're flexing some serious crypto muscle. Exciting times ahead to see how it all unfolds

The problem is that they can try to use their huge BTC holdings, even if in behalf of their clients, in order to push an agenda. If you look up at the pdfs that they presented to file their entries into the SEC and whatnot, they include disclaimers which basically say that you are going to be forced to follow whatever hardfork they want to make, clients of IBIT do not have any say on the hardfork direction. So they will try this again. They want of course the fee to make money, but they will also use this to try (again) another hardfork attempt. Anyone that does not see that this whole ETF thing is an attempt to fork the network is being deluded by number go up euphoria.

As they say in a colloquial phrase in these regions; "you kill the snake and now you're afraid of the head." It was not what a large part of the users were asking for, the ETFs, so now in fear mode for having a traditional investor with the percentage weight of less than 1%, they may have a lot of influence and in fact control that influence of the traditional investment sector , the media and large investors, but controlling bitcoin is at best unlikely, do not confuse that with control of public opinion, influence on the price, etc.

I will ask you to research on the difficulty adjustment built into the bitcoin protocol. There is a lot of fundamentals about the protocol that no entity can change it like a light bulb. Blackrock cannot control it. Even if they somehow manage to acquire half the supply.

Hmm, The speed of accumulation of Bitcoin by these ETF giants is terrifying, and this is a big concern even though they are now having direct OTC deals with the miners which is not a big deal they can have but the amount they've already accumulated is showing that there's a very less time for us to accumulate enough Bitcoin from Open market, seems like their agenda is to accumulate the entire available on-chain supply and sell the paper contracts just like before.

Anyway, I won't suggest to anyone to invest through these ETF You better go for the self accumulation, it is safe and transparent and the biggest thing is custody, I don't want black rock or any giant contouring my money even though it is worth pennies I can decide by myself, this is what I need, and this is for what Bitcoin is recognized.

This is not the first time we are seeing such things. Grayscale Bitcoin were there before Bitcoin ETF were later approved by the security exchange commission (SEC) and what happen when GBTC were been traded? There impact on Bitcoin was liquidity which was the Bitcoin they were buying ast the trusts funds were increasing but that doesn't threaten Decentralization, the security and the scalability, more like they were in their own world of Bitcoin(GBTC) and native Bitcoin was doing it own and the Bitcoin they hold that time wasn't upto 1% of the total circulation, I don't think this ETF will be able to manipulate anything other than the price.

Whatever Blackrock or Microstrategy who are now the biggest holder of Bitcoin does, they can influence the price but on the properties of Bitcoin, they can't do anything and I hope they don't use investors Bitcoin like the way FTX did back then when they were using peoples fund and thinking of way to move the price further to recoup what they have spend within the company. Don't trust anything related to Bitcoin companies such as GBTC or any other Bitcoin ETFs.

If in the long run, Blackrock acquired the majority of the Bitcoins in the market, they can only control the market price but not the Bitcoin blockchain.  Owning Bitcoin is different from mining, confirming, and verifying Bitcoin transactions.  They can manipulate the Bitcoin market "if"  they hold the most Bitcoins but they cannot manipulate the Bitcoin blockchain.  If they wanted to, they had to convince the miners and developers to go along with their plan to modify the Bitcoin specification to their liking make a hard fork, and make sure that they get the majority of the hashes making their chain the main one.

But in the current situation, it is good to see that Blackrock is putting more demand on Bitcoin.  This will give more boost to Bitcoin demand and may serve as wake-up calls to those who are watching on the sideline.

First thing of all, to you _act_, congratulations for hitting 1k merits. You are my mate in the forum, I remember when we started the journey, and I always remember you when they analysed usernames that needed either merits or activity to rank up to the next rank. Once again congrats.

I don't know why recent newbies want to centralized Bitcoin. Few days ago a newbie said there should be a Central Bank where everyone can save their Bitcoin for safety. And we have to do KYC. And for them to know that once Bitcoin is controlled by an individual or group then Bitcoin will collapsed within few seconds because government will not allow Bitcoin to exist and will arrest and ban Bitcoin accounts.  Therefore as it is like this, it is the best way with Bitcoin and it users.

All US spot ETFs together have a little more than 800 000 BTC (including Grayscale), which is still close to 5%, and it is increasing every day. However, as others have already written, it is not too important, but perhaps it is much more important that companies like BlackRock get involved in BTC mining, which can give indications that they have some long-term plans that are not really in the interest of BTC.

From their documentation (somewhere there is a discussion on the forum) it is evident that even before the approval of the ETF, they declare about possible BTC forks, saying that their company will not necessarily follow the chain that others would say is the real original BTC. According to my interpretation, this would mean that in the future we may have a fork that could result in a new coin that could be called BitcoinBlackRock (BBR), and one should never underestimate the power that such powerful companies have when they want to impose their interests.

Some may not even remember the attack launched by the BitcoinCash team sometime in 2017, and if they had more money they might have succeeded, because at one point they pumped their coin to about $3000, while BTC was only worth about $5000 at that time.

It's very vague when you simply say "control BTC" because you cannot simply control BTC. It depends on what the context is.
If you are talking about the bitcoin network then the entity needs to have more than 51% mining power to control the bitcoin network.
If you are talking about the bitcoin price then the entity needs to have a very huge supply of bitcoin but bitcoin being decentralized is distributed over huge amount of people.
It's not that easy to control or manipulate bitcoin price. Blackrock definitely has a huge amount of bitcoin supply but it will still be difficult for them to totally manipulate the bitcoin price.

It’s like you’re missing the whole point up mate, what kind of centralization can a big companies offer, no matter what they buy they can’t simply hold 50% of the entire bitcoin. Also bitcoin network is also not about the number of bitcoin you hold yes that’s only a topic to discuss if you say what if they decided to sell. It will simply mean a thing they will sell and if it is a very large amount they will market will react negatively to it after a short period of time and we get back to been Normal and you know the effect will affect just everyone too even them that have bitcoin holdings at hand but still for a short period.

As for bitcoin network decentralization nothing can centralize it because every node runner is part of the network and any move Must be consensus which means that even if blackrock today holds like more than 51% power of the network they can’t of things still there own way until other node agrees. So the talk of a centralization is not happening except if they get the consensus always on their back which will never happen

I have also heard about bitcoin becoming more and more concentrated as large funds enter the market and hold the majority of bitcoin, I don't know if this is true or not. But I know one thing, the participation of large funds in the market or regulations is inevitable and we have no solution to prevent them. And once we can't do anything, why do we care? As for me, I will only look at the positive side when large funds enter the market, that will greatly impact the demand for bitcoin and will in turn help the price of bitcoin increase in the future.

Can we get rid of these "control" threads by now? I mean, why don't people understand that no third party entity or even the developer of the Bitcoin can take control of Bitcoin now.
It's at the stage where everyone needs to run the network or the biggest entities (Bitcoin Mining companies, Investors) will face a huge loss. They will have to keep the network alive to ensure more investors. More investors == More profit for any company like Blackrock.

I believe that the involvement of major financial players like Blackrock in the cryptocurrency space could lead to increased legitimacy and attract new investments to the market. However, it could also pose a risk of centralization and the loss of the decentralized nature of cryptocurrencies. Nonetheless, it's positive to see such companies entering the cryptocurrency arena as it signifies another step towards its mainstream recognition.

Absolutely not, folks, lets get real - BTC controlled by Blackrock? Like asking, "Will the swamp control freedom?" No way. Remember that Bitcoin was established to avoid Blackrock's control. Indeed, their ETF entry injects capital and legitimacy, making us all winners throughout this bull run. Great, right?

Decentralization makes BTC beautiful. We lose focus when we worry about institutions controlling it. Blackrock's strategy is profit, not control. Though big, BTC's ethos is bigger. Bitcoin's blockchain technology prevents centralized power. Remember, its about individual empowerment?

Critically, stay alert. Accept gains, attend events, and enjoy the trip. Yet, always remember the core principle of Bitcoin: decentralization. Its our defense against traditional financial control. Helping people who fear, but dont lose trust in Bitcoin's revolutionary nature. A movement, not just an investment. My pals, movements are hard to control.

If that's so, then BTC will no longer be worthy of our investment and we might going to change some direction in order to prevent ourselves from getting controlled by these people. We might gonna need to have some alternative investments in some decentralized altcoins, we still have a variety of choices though. But this is not gonna happen just like that since we still have more bitcoins circulating right now and many more are still being mined as of today. So we don't really need to worry about it rather let's just continue to accumulate in a manner that we are not exaggerating ourselves.

Maybe not if you mean a full total control of bitcoin since it needs a lot of money to accumulate almost all the supply of bitcoin. But for manipulative attempts  like trying to move the price well they can possibly do that knowing that it will be easy for famous organization to influence peoples mind especially those people who immediately believe on the news what they read online. Also don't expect that they can do that for long term since as other manipulative actions done by other influential people or organization there future attempt will not be successful since people provably know their intentions and ignore any news they release.

Remember it isn't Blackrock's money. They aren't making profit from ETF directly. They are only making profit from charging fees for the ETF. The money in the ETF is clients money.

People keep acting like the Blackrock ETF is Blackrock's money and they can do whatever they want with it to try to manipulate the market lol. Some of ya'll need to look up what an ETF is. None of this is Blackrock money. They just buy and sell based on the buying and selling of their clients. They are simply a middleman for clients who want access to bitcoin as an investment. Say it with me: "THIS IS NOT BLACKROCK'S MONEY" lol

Some of you would be so much less worried about irrelevant things if you learned some basic stuff before you started worrying.

Blackrock has no control over the Bitcoin network because that simply is not how Bitcoin works, and they aren't even buying any of the Bitcoin in their ETF because that's not how ETFs work. Stop worrying over nothing.

They literally don't have control in the network of Bitcoin however they can manipulate the market since they have huge holdings that can be used in advantage to them either they wanted to buy more or they just want to make profit from their hefty investments. These institutions see Bitcoin to be the best and profitable asset compared to maybe other investments available around that is why they are jumping into it.

How do you know if they didn't even before the ETF? Hedge funds can invest in anything. They don't care if some asset has an ETF or not. They can invest in online casinos, crypto etc... Nobody really know what assets they have in their portfolios. Blackrock have been in the game longer than people realize probably. At least that's what I think.

You said ETH... Eth was a $9 coin when I first saw it. Now it is a $4k coin. Do you think BlackRock haven't made any profits while Eth was going from $9 to $4k? None? I don't believe it.

Bitcoin ETFs currently have 192,255 BTC under their control. That's less than 1% of circulating supply, and that's the ETFs combined. Interestingly, the iShares Bitcoin Trust by BlackRock holds a similar amount, which is almost close to 1% of the total supply. Going from 1% to controlling Bitcoin is a very big jump. They can accumulate more, and maybe this 1% will become 2-3%, which is still negligible in comparison with the circulating supply. So I don't think they're trying to control Bitcoin, and I don't think they'll ever accumulate enough to actually be considered as 'controlling BTC'.

They cannot control Bitcoin until and unless they own Bitcoin network which is not possible and most of the activities are limited to centralized stuff hence they may not be able to cause any major disruption in Bitcoin market, there are hundreds of such whales in Bitcoin and only one institution cannot do much here. Also we need to understand the difference between Bitcoin network and ETF as if we understand then we won't worry about it.

Blackrock does not control the Bitcoin network.

However it has been infiltrated to some degree, the tentacles of the parasite elite stretch far and wide.

By the looks of it, a lot of miners, exchanges, wallets etc have been bought up by big tech.

They are constantly attempting to lead Bitcoin towards the NWO agenda, however the sovereign Bitcoiners who run their own node, hold the keys, privacy best practice etc are holding the fort.

They have also infiltrated the culture a bit. Hodl to get rich is fiat mentality.

To me, Bitcoin is still a tool for freedom & life raft for economic collapse, however the privacy by default is severely lacking (and we know most people are too lazy to acquire it). This may have been another thing that was infilitrated because Satoshi was clearly an anarchist cypher punk.  There's no freedom without privacy and that's why I'm personally supplementing Bitcoin with Monero.

The crypto market has a bright future for us where after we faced the previous bearish trend the market returned to its current state. Regarding your assumption above, in my opinion it is just their opinion, in fact everyone in the world can own BTC.

BlackRock is a very large global investment company, but remember they have no direct control over Bitcoin, they only provide a statement stating their high interest in Bitcoin's future prospects. Yes. Personally I would choose universal, I think BTC is the main coin in the cryptocurrency market. Its features have many advantages when compared to other coins and if anyone wants to speculate and provide more control.

It is not the appearance of Blackrock that causes the price of bitcoin to be manipulated, but rather that the price of bitcoin has been manipulated in the years since it was traded. If you believe that bitcoin is not manipulated, can you explain to us why bitcoin price can fluctuate so much? Because if the value of an asset depends entirely on supply and demand, how can it fluctuate from 5-10% every day, even every hour? So far, no one can manipulate or control the bitcoin network but as for bitcoin price, I believe it is always manipulated.

While this is so, but it is quite possible that everything may change, and they will also want to own Bitcoin, but this does not change the big essence, if at some point their clients want to sell and this will have an avalanche effect, then this can also affect price. I agree that everyone will not sell at once, but the market is capable of provoking people into panic sales, this has happened many times and I see no reason why it cannot happen again. Blackrock is always looking for opportunities to make money, and if they saw an opportunity in Bitcoin, that's a good sign.

That's not how it works. Doesn't matter how much bitcoin Blackrock owns. Bitcoin isn't proof of stake, owning more bitcoin gives blackrock no control over Bitcoin.

Also please realize that Blackrock only owns bitcoin on behalf of their clients. So while technically they own the bitcoin, they don't really own it because its all with clients money. This is not Blackrock's money. And as my first sentence says, it wouldn't matter anyway because it gives them no control over the bitcoin network.

Lots of people have stated this same worry since last Summer, but it comes from simply not understanding how Bitcoin works, and apparently not understanding what ETFs are.

This is the common misconception about Blackrock. They don’t plan to own that Bitcoin for holdings but rather they will just sell it to their clients that wants to own their own Bitcoin. Blackrock is just holding it for their client but they don’t have the power to sell it by themselves without the consent of their client.

Blackrock gains money through commission and fee by selling ETF. They are not the one who owns the Bitcoin but the client who invested funds to them. It’s not Blackrock you should be afraid of but rather those customers that buying Bitcoin because they are the one who will dump the market with their holdings.

I think quite positively that it could push BTC prices higher and attract more people to participate in the market. But also know that it can somehow lead to the concentration of power and cause Bitcoin to stray from its original purpose. The fact that many people participate in events such as bullish celebrations shows confidence and expectations in the potential of Bitcoin, the positivity shows the growing institutional interest in Bitcoin bringing capital inflows large flows into the market, driving BTC prices higher. But investing in any asset will have potential risks, dyor and evaluation before making a decision to invest in Bitcoin.

Yea, having centralized financial institutions like BlackRock, locking 400 000 bitcoins into a centralized database is a big problem for many of us, but unfortunately we are the minority. The majority of the people do not see the danger or their judgement are clouded by greed, because they are "invested" in Bitcoin for the profits and not to promote Bitcoin as an alternative "currency" for the people.

In any way, if one person or group control the majority of the coins, people will start to move over to other Alt coins with more available coins and companies like BlackRock will have to start buying the more popular coins for their investors.  

I consider control is higher than 50%, since the total lost coins, owned by Satoshi, and people hold worth 50% of the maximum supply are higher than 50%, so Blackrock still didn't controlling Bitcoin.

It's why we need to use decentralized exchange or no KYC P2P which listed on kycnot.me, in order to make the Bitcoin not going to centralized entity.

Blackrock doesn't own the Bitcoin network, they are also not the only whale in the Bitcoin market which means there is no way they can control Bitcoin. Despite that there are many whales in the Bitcoin market over the years, there have always been other factors that affect the Bitcoin market.

No one can control Bitcoin. They can directly or indirectly own bitcoins and choose to do with that as they please. But your bitcoins stored in your wallet cannot be influenced by any external factor, except you give access to them by handng over ownership.

Blackrock, other ETFs, companies and businesses are factors that will always show interest in an asset like Bitcoin, and that interestbwll only continue to grow. As long as you keep your coins in your custody, you'll be all good.

This is not true.

They already can manipulate BTC price in any way. They invested a lot in mining too. Still not enough to control the network, but more than enough to control the price

You do not have the power to control bitcoin before you will make money from it. What BlackRock is most after is money, to make money from their customers and nothing more than that. I am talking about bitcoin network and not the ETF because the ETF is centralized which is normal as it is ETF.

Black Rock does not and will not control BTC if you implied about control on Bitcoin network.

They can have big shares in Bitcoin circulating supply but control the network, they won't have that power.

Black Rock started to show something big in the last year by investing in 4 of 5 biggest Bitcoin mining companies.

BlackRock is a major shareholder in 4 of the 5 largest Bitcoin miners. And they also spent their resources for Bitcoin Spot ETF application against SEC. Finally they succeeded and they are buying a lot of bitcoin last 40 days. Already surpassed MicroStrategy as a biggest public company holds Bitcoin.

https://bitcointreasuries.net/

Hey guys how y'all enjoying this bull run? So something got me thinking after reading this news about Blackrock filing to get more BTC for their Global Allocation Fund.
Y'all can read the news here, it's a minute or 2 minute read: https://cointelegraph.com/news/blackrock-buy-spot-bitcoin-etf-global-allocation-fund

I mean, the funds coming from ETFs are really showing its worth. I can see the excitement on everyone's faces that bought BTC. I also have benefited a lot from it, engaged in different events like the Welcome to bull run on Bitget, some farming airdrops on Binance and many more.

But then again, do you think this might back fire on us in the longer term? We all know what these men are all after is to be in control and that's why BTC came into reality cancelling all that making everyone their own Government of their assets.