Why does BlackRock's Larry Fink suddenly want to launch a Bitcoin ETF?
07/09/2023 •
Larry Fink aims to launch a Bitcoin ETF to capitalize on the growing demand for cryptocurrencies and potentially profit from it. — The majority of the comments suggest that BlackRock's motivation for a Bitcoin ETF is primarily financially driven, either through direct profit or market manipulation. However, some individuals also view it as recognition of Bitcoin's potential benefits.
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Story
- Several individuals suspect that BlackRock's pursuit of a Bitcoin ETF is a strategic move to manipulate the cryptocurrency market, potentially echoing practices like JP Morgan's alleged manipulation of gold prices.
- Commenters have expressed skepticism towards Larry Fink's change of stance towards Bitcoin. Noting his previous description of Bitcoin as an "index of money laundering", these individuals question the genuineness of his newfound support.
- Some believe BlackRock is primarily profit-driven and that their interest in launching a Bitcoin ETF is primarily to capitalize on the growing demand for cryptocurrencies and enhance their revenue.
- There are suspicions that BlackRock loaded up on Bitcoin at lower prices and are now launching an ETF in the hopes of inflating the price.
- Some people believe BlackRock's pursuit of a Bitcoin ETF could lead to the manipulation of the Bitcoin price, similar to how JP Morgan is believed to control the gold price.
- The approval of BlackRock's Bitcoin ETF is anticipated to create a massive influx of capital into the market, potentially driving significant changes in the decentralized markets.
- Larry Fink, recognizing the potential benefits and value of cryptocurrencies, is believed to view Bitcoin as a safeguard against inflation and a digital form of gold. Some believe this could contribute to Bitcoin becoming a reserve currency.
- Several individuals note Larry Fink's belief in the potential of Bitcoin to revolutionize finance and act as a hedge against inflation, contributing to his decision to pursue a Bitcoin ETF.
- A few commenters believe that once BlackRock's ETF is approved, mainstream media sources owned by BlackRock will shift their narrative and start promoting crypto instead of criticizing it.
- Some individuals think BlackRock's entry into the ETF business, along with other big players like Fidelity, indicates that big money is finally entering the space, which they believe will positively impact prices.
- Larry Fink's promotion of Bitcoin ahead of the ETF launch is viewed positively by some, who are excited about the potential impacts on the cryptocurrency market.
- There are doubts among some people regarding whether a proper Bitcoin ETF is necessary or truly beneficial to investors.
- Some individuals link BlackRock's interest in a Bitcoin ETF to potential changes in Bitcoin's reputation and its potential to become a reserve currency.