The Big Dog Is About To Arrive For Bitcoin

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Forget Microstrategy. Ignore Grayscale. Skip Ark Investments.

This is minor league stuff. When it comes to game changers, these companies are small potatoes.

Now it is time for the Big Dog to enter the ring.


Source

Grayscale is doing very well. It now has over $27 billion in Assets Under Management (AUM). That is a great windfall for Bitcoin.

Things are about to get a lot more interesting. In the above image, Grayscale is the dog on the left. So who is on the right?

That would be none other than BlockRock, the largest asset manager, with over $8 TRILLION in assets under management. That overwhelms the numbers when you compare Grayscale, Microstrategy, and Ark. In fact, BlackRock will outpace near every asset manager there is.

According to the filing with the SEC, BlackRock is looking to get into the space through Bitcoin.

“Each Fund may use instruments referred to as derivatives, which are financial instruments that derive their value from one or more securities, commodities (such as gold or oil), currencies (including Bitcoin)”

Source

The company is looking at how they are doing businesses. 2020 was the year that institutions awoke to what is going on within the world of cryptocurrency. This led to a number of firms entering, but that was just the beginning.

BlackRock is going to take a different approach. It will likely build a platform where it accesses Bitcoin through the futures market. This is not surprising since it allows for the firm to leverage their position rather easily. It also does not require handling the physical commodity (keys in this case).

The reason why this is so important is the sheer size of the holdings of BlackRock. This company could play with billion of dollars and not even tough a decent percentage of what they hold. Not many companies can do this.

It also starts to open Pandora's Box even more. While the money will flow it, this might not be the best thing long-term. With such a small market, the tendency for manipulation is great. A company like BlackRock has the ammunition to serious move the markets as it sees fit.

This, of course, will be more difficult if the market cap of Bitcoin keeps heading higher. The larger the market, the harder it is to maneuver.

There is little doubt that the Bitcoin appeal is spreading rapidly. With the major Wall Street firms entering the fray, it only adds a great deal more legitimacy as an asset class. We also see strange bedfellows as Wall Street and the crypto maniacs are now on the same side, albeit for much different reasons.

With BlackRock, there is little stopping the next wave of large firms from entering. While holding Bitcoin might not be in the cards, other avenues might be more appealing to the likes of insurance companies and pension funds.

Bitcoin is certainly garnering up a lot of money from Wall Street. This takes it away from its original purpose but should provide a faster growth rate for the industry.

Alt-Coins are going to be the ones who have to pick up the original vision and run with it.


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If Blackrock is joining, I would not be surprised if JP Morgan and Goldman Sachs enters afterwards.

On a side note, I know Blackrock more for their ETFs so does this mean that more crypto ETFs can start appearing now? Overall a boon for the crypto space if it does but I hope they don't manipulate the market.

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That is up to the SEC and a new chair there so we will have to see.

I believe we will see a Bitcoin ETF this year.

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if they join as well, we need to hodl our cryptos or increase our stake before they join. They will basically take everything out there and i don't want to buy my cryptos even if i could buy a laptop or a car per se.

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They could crash the market using futures to allow their clients to buy much lower.

These companies excel at market manipulation.

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the new administration is not crypto friendly, if things go south they will go fast. Also it's super ironic that bitcoin has become so institutionalized :)

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That is what makes platforms like Hive even more valuable. They cannot just come in and buy everything up. If they did, the community could fork again and the apps just move to another chain. A pain in the ass but they would be left holding very little to nothing.

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Coming more institutional money is very good and this will lead bitcoin to the next level. although after Microstrategy and Grayscale market has grown significantly but a bigger giant entry will make it even more awesome.
Its high time HODL and wait for the bright future.

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I saw this headline last night, but I wasn't aware of just how large BlackRock is. Now that you put all this down it makes more sense to me and I realize that I have heard their name mentioned in other conversations in the past. I wonder how long before some of these companies start taking a chance on some of the smaller tokens. While the market for BTC is shrinking more and more each day, they could easily swoop in and buy up a ton of something like LTC or even ETH.

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They are the biggest of the big. Not too many in their class.

Fidelity is another one that is in that neighborhood.

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Blackrock is all over the news. All I want from them is a tweet. Something like HIVE/LEO. Nothing more. Indirectly they will all benefit from that though.

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A couple of months ago majority laughed at people who said 50k USD for a BTC. Now even the 100k USD doesn't seem impossible , atleast in the long run.

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Very true. Those numbers get more realistic by the day.

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Bang, I did it again... I just rehived your post!
Week 40 of my contest just started...you can now check the winners of the previous week!
10

8 Trillion? I look so small next to this huge number. In my future plans is to have at least a small part of such a big number.

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