We all entered the Bitcoin market with hopes and dreams of changing our lives financially. And that is why so many people were excited about the huge news that the largest investment fund in the world, BlackRock, had finally entered the Bitcoin market by openly applying for a spot Bitcoin ETF.
If you are new to Bitcoin, it has long been theorized that a spot Bitcoin ETF being approved in the US would be the catalyst that not only could ignite the next bull cycle but would also propel the price of BTC over $100k and beyond. Then add the fact that this first ETF could be awarded to BlackRock, the most powerful financial company in the world. All of this adds up to a double-whammy that not only will send the price of Bitcoin much higher than any of us could have imagined. But it will also cause FOMO within the financial world and Wall Street.
For the longest time, the most powerful companies in the world such as BlackRock and JP Morgan have essentially called Bitcoin a Ponzi Scheme that you should avoid at all costs. This caused a situation where it was taboo for investment funds to even recommend Bitcoin, and could often even be a fireable offense. But now the game has changed. With BlackRock announcing that they are entering the Bitcoin market, all of a sudden the taboo of this market has disappeared. All of those hedge fund managers no longer will be looked down upon for investing in this market. And who could blame them, the most powerful financial company has now entered the game.
Everything seems to be lining up for perhaps the most magical bull cycle we have seen in recent years, and Bitcoiners are excited.
The only problem is sometimes you need to be careful what you wish for. We may have been cheering for the arrival of the evil empire to Bitcoin.
As I mentioned before the arrival of BlackRock and the near certainty that a spot ETF will be approved has made the likelihood of Bitcoin reaching $100k almost a sure thing. However, BlackRock brings a lot of baggage with it as well.
BlackRock has been the entire opposite of why Bitcoin was created. It is everything that we are trying to escape.
BlackRock has often been called the secret company that controls the world. While most people believe that governments and politicians pull the strings. It is actually companies like BlackRock that have the most power. They are able to play kingmaker and have the sway to not only help people get elected into office but also to get them ousted. They have the power to get favorable laws put into action and eliminate the ones they don’t like. During the last few years, it is likely that you have heard a lot of discussions about ESG. Particularly the ESG FUD that was surrounding Bitcoin mining. The entire ESG term and controversy were all started by BlackRock. However, now that they are entering the Bitcoin market, they have recently been much quieter about ESG and have gone so far as to say that they don’t like the term.
It is a story as old as time.
Powerful companies like BlackRock will spread FUD against a certain asset class like no other until they have accumulated as much as they possibly can. Then, and only then, their stance will completely change and they will announce to the world that they are fans of the asset. Exactly what BlackRock has just done with Bitcoin.
There is a lot of other baggage that BlackRock brings with it. It was one of the largest beneficiaries of the Ukraine/Russia war, and it will also benefit greatly from the Ukraine rebuild. They are benefitting from both sides, the war and the rebuild. When you think about everything that is wrong in the world today; the never-ending wars, the industrial-military-complex, and how humanity isn’t important as long as a profit can be made. Those are all things that describe BlackRock.
BlackRock entering the Bitcoin market will make Bitcoiners richer than we could have ever imagined. But, we have also opened the door and let the evil empire into Bitcoin. Sometimes you better be careful what you wish for.
How about you? What are your thoughts on BlackRock entering Bitcoin
Read Exclusive Articles 1st on
or
As always, thank you for reading!
