The post BlackRock’s Intentions For Bitcoin: Control, Harm, or Manipulate? appeared on BitcoinEthereumNews.com.

– Advertisement – BlackRock head Larry Fink and the Bitcoin community want the same thing: to see Bitcoin become widely accepted as a store of value and potentially become a medium of exchange. BlackRock is preparing to educate clients about Bitcoin and aims to attract hundreds of billions of dollars into its spot ETFs. Fees from iBTC alone could reach a staggering $24 billion annually, increasing market caps by an extra $132 billion. BlackRock and its CEO Larry Fink became interested in Bitcoin: What are the reasons behind this interest? What might BlackRock’s purpose be? Is BlackRock Trying to Harm Bitcoin? When major players like BlackRock enter the crypto world, questions arise. What are their intentions? Are they trying to control, manipulate, or harm Bitcoin? BlackRock’s CEO Larry Fink and the Bitcoin community share a common goal: to see Bitcoin widely accepted as a store of value and potentially become a medium of exchange. As Bitcoin enthusiasts, our goal is simple: we want Bitcoin to continue growing as a reliable store of value and eventually become a medium of exchange. On the other hand, BlackRock has a single objective: to make profits. They are essentially an asset management company, and they make money by expanding their assets. It’s quite straightforward; the more Bitcoin they hold, the more fees they collect. Interestingly, BlackRock’s financial objectives align with our interests. They have a strong reason to promote Bitcoin awareness and adoption. BlackRock is preparing to educate their clients about Bitcoin and aims to attract billions of dollars into spot ETFs. Analyses predict that existing clients may invest $200 billion into Bitcoin ETFs within the first three years. If they reach this target and charge a 60 basis point fee, they could earn a significant $1.2 billion annually. With BlackRock’s 5.5x earnings multiplier,…

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Filed under: News - @ November 5, 2023 12:18 am