Unfortunately this is what the masses wanted. Everyone was so excited about blackrock and the others but little did they know blackrock doesn't play fair.
You seem surprised by Blackrock's action with Bitcoin, don't you know that ever since gold ETFs have been for sale, people are holding or have invested in gold that doesn't exist? Yes, almost 30% of gold ETFs aren't backed by gold. Same this is going to happen with Bitcoin.
Why is the BTC price falling (from sell-offs) when the ETFs see significant outflow? Surely Blackrock et al would just hodl until they sell the "proxy" as an ETF, especially in a bull market.
There was nothing good about blackrock buying BTC. It just makes it more centralized because one entity now owns a crap load of the coin. Goodluck Bitcoiners, Kaspa is the way!
Is this why there seems to be a lot of buying but no price change in BTC?
Just like paper gold.
Unfortunately this is what the masses wanted. Everyone was so excited about blackrock and the others but little did they know blackrock doesn't play fair.
Paper Bitcoin has ARRIVED! 💯
So they can short the market and make tuns of profits 📈
That's absolutely scummy
Thanks for the info
Blackrock is the worst thing to happen to crypto
Looks like Bitwise is the only bitcoin ETF that publishes their wallet address. Hopefully the others will follow suit
FBTC also self holds.
That's a bit confusing actually. Set 30 days to get it backed 1:1. And then the really confusing part is that they can settle in cash?
So basically BlackRock hands out an IOU to anyone who purchases their BTC ETF. 👍😂👍
You seem surprised by Blackrock's action with Bitcoin, don't you know that ever since gold ETFs have been for sale, people are holding or have invested in gold that doesn't exist? Yes, almost 30% of gold ETFs aren't backed by gold. Same this is going to happen with Bitcoin.
What are the practical consequences of this? Does this allow price manipulation?
Consensus. They're lying....
Why is the BTC price falling (from sell-offs) when the ETFs see significant outflow? Surely Blackrock et al would just hodl until they sell the "proxy" as an ETF, especially in a bull market.
Leveraged traders are getting liquidated.
There was nothing good about blackrock buying BTC. It just makes it more centralized because one entity now owns a crap load of the coin. Goodluck Bitcoiners, Kaspa is the way!
coinbase did not share the liquidition data with world why??
Which means Coinbase can have hedge funds SHORT BTC to make the price fall into quicksand...GET YOUR BTC OFF OF EXCHANGES!!!!!!!
Does Bob Baffert work for Blackrock?
Manipulation manipulation
How do you buy BTC offline?
OTC
via Coinbase or other BTC custodian.
Cool! Another scam for coffeezilla!! Can't wait to see where this goes!
Cash ? Thats funny.
Can you explain in detail how this is paper BTC?
It isn’t. She doesn’t understand it properly.
The settlement is T+1, the change came into effect on May 28th. She is wrong.
They can buy and sell BTC without actually buying and selling real BTC.