Blackrock adds Bitcoin to their $15TR Global Allocation Fund, trillions of $ to flow into the market

[Snuskpelle]

Way more than you have

k

 

[johnarb]

Blackrock added Bitcoin to their $15 Trillion fund but it's prolly nothing because the people at Blackrock do not know how to research and most if not all of them are stupid moronic idiots

 

[The_Krakenite]

If BR tries to corner the market it will end very badly for them. It will be similar to the Hunt brothers. Don't be surprised if the 'great revolt' by retailers happens, and the old BTC is forked for a new in a great re-set if you push too hard. Only this time, those holding the old BTC wont be entitled to the new fork without paying a floor base.

The house always wins - Niederhoffer.

 

[DaveV]

GBTC trades at a 45% discount to NAV.

GBTC trades at a 45% discount to NAV because they refuse to provide proof of the number of bitcoins that they claim to own

https://www.cnbc.com/2022/11/21/grayscale-wont-share-proof-of-reserves-due-to-security-concerns.html

 

[semperfrosty]

The more institutional ownership of Bitcoin the less chance it has of ever going to the moon ($1 million)

This can be seen over the years, in the early years bitcoin had no or low institutional ownership and had huge returns.

These days it trades more like a tech stock.

I think you're probably correct.In fact there's a possibility that the recent range trading and lack of volatility is down to the big players starting to control things. Moving it like a stock as you say.

Doesn't mean we cant see big moves in the right direction but it may not be as appealing to the high risk speculators.Boredom/fatigue could see some stock move from hodlers and rich quickers to the institutions.

Be interesting to see how it plays out.Psychologically a lot of smaller investors on the fence may be buoyed as bigger names enter?

 

[ph1l]

Prolly nothing...

https://financefeeds.com/blackrock-makes-bitcoin-eligible-investment-to-15b-fund/

“The Fund may invest in cash-settled bitcoin futures that are traded on commodity exchanges registered with the Commodity Futures Trading Commission,” the filing states.

So, they won't hodl bitcoin, but might go long or short on bitcoin futures.

 

[Nobert]

https://financefeeds.com/blackrock-makes-bitcoin-eligible-investment-to-15b-fund/

So, they won't hodl bitcoin, but might go long or short on bitcoin futures.

The misunderstanding on their part, of that which they read can't be real, it has to be intentional.

 

[The_Krakenite]

I am not very happy with any bullish news to be honest. During our current recession/depression my goal is to keep DCA into regulated Canadian exchanges. Bullish news is the exact opposite of what I want this year.

I definitely wouldn't mind another round of Ackman crying on CNBC again about "Hell is Coming!"

 

[Pekelo]

The more institutional ownership of Bitcoin the less chance it has of ever going to the moon ($1 million)

Exactly. This also means if there is a general stock market downturn, they gonna dump coins like there is no tomorrow.

 

[Pekelo]

the people at Blackrock do not know how to research and most if not all of them are stupid moronic idiots

Exactly. Have they added NFTs yet?

Obviously HFs never lose money and having a Harvard degree means you are infallible. Oh wait:

"And this year BlackRock chalked up another record: the largest amount of money lost by a single firm over a six-month period. In the first half of this year, it lost $1.7 trillion of clients' money. Jul 19, 2022"


https://www.bloomberg.com/opinion/a...ock-lost-1-7-trillion-in-six-months#xj4y7vzkg