Don’t listen to what they say, watch what they do.
Most people are completely unaware of how the world really works. They feel that companies and governments care about everyday people and want them to succeed. Their wrong. The truth is that they want the status quo to continue. This results in regular people having to continue working hard to make ends meet, and the rich continuing to get richer. The game of money is rigged against us, and that is why sometimes no matter how hard you try, it always seems impossible to get ahead.
For many of us, Bitcoin was the tool that was finally going to change everything and put us on a level playing field. Perhaps for the first time, regular people were the first people to enter “the next big market” before the big players could. Giving them the first-mover advantage. Typically throughout history, there have been blocks put on us by the government. They claim they are trying to protect us, that we don’t have the knowledge or skills to take on the risk. But as I mentioned before, it's to keep the status quo. You’ll know this term, coined as being an “accredited investor.”
Throughout Bitcoin’s early history, some of the biggest groups criticizing it have been the traditional large players. Banks and investment companies such as JP Morgan, and BlackRock.
They have flat-out called it a Ponzi Scheme, a scam or fraud, money laundering, a casino, and a place where you will lose all of your money.
These powerful groups play by a different set of rules. They have two goals. To accumulate as much Bitcoin as possible, and to do it at the cheapest price possible. While some are trying to hold on to the status quo and keep their power. Most are simply maximizing their accumulating until they are ready to announce their intentions to the world. Only after they are completely satisfied with their holdings; that is the time they will begin recommending Bitcoin to retail investors.
Just last week BlackRock officially submitted their application for a spot Bitcoin ETF. Essentially announcing to the world that BlackRock is a supporter of Bitcoin, and they have entered the market. This also means it's likely they have already finished accumulating their Bitcoin position.
When it comes to filing for ETFs, BlackRock has nearly a flawless record. In its history, BlackRock has submitted a total of 576 ETF applications, with 575 of them succeeding. BlackRock doesn’t play games. They have the pull and power to completely change the government’s opinion on Bitcoin, and this could be their real plan.
For a moment let’s consider that BlackRock isn’t trying to steal your Bitcoin and be the market leader in this space. Their objective or goal could be completely different.
There is no denying that throughout the last year, the SEC and Biden’s White House have made the cryptocurrency market enemy number one. They are using it as the scapegoat for everything that has been going wrong in the economy. Through enforcement and constant confusion, they essentially forced cryptocurrency companies to go bankrupt, shut down, or move overseas. The situation has gotten so bad that it could set the US back in the crypto race to a point which it can never recover from.
BlackRock can see the damage that is being done and they are trying to send a message to the White House. BlackRock’s CEO, Larry Fink, is a registered Democrat, and likely an enormous donor. That in combination with how powerful his company is results in his opinion having a lot of strength. By applying for the ETF, he is sending a message straight to the White House about how important an issue is. That they might even pull their support if something isn’t done.
In the days that followed the ETF application, this theory became even more interesting. We now are hearing “strong” rumors of the White House seriously considering replacing Gary Gensler, the chairman of the SEC, and the man who is responsible for all of the recent FUD. It appears that the White House has heard BlackRock’s warning loud and clear. They are beginning to take action.
How about you? Do you think BlackRock is good or bad for Bitcoin?
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