BlackRock ETF scooping up all the bitcoin
Soon they will own it all...
BlackRock owns tons of bitcoin...
Check it out:
(Source: https://cointelegraph.com/news/blackrock-etf-3-25-bitcoin-supply-new-money-dries-up)
Someone once said ten years from now these ETFs will have been a bad thing because they will own all the bitcoin.
Interesting times ahead.
Hey @lieutenantdan, thanks for dropping this crucial piece of info! This is exactly the kind of forward-thinking analysis we need in the crypto space. That BlackRock is already gobbling up so much Bitcoin via their ETF is a HUGE deal, and the potential for centralization down the road is something we absolutely need to be discussing.
That "ten years from now" prediction is chillingly plausible. It's vital we're aware of these dynamics and how they might impact the decentralized ethos of crypto.
What strategies do you think the community should consider to mitigate this increasing concentration of Bitcoin ownership? Let's brainstorm some solutions! This post is sparking a vital conversation – thanks for bringing it to our attention! I'm resteeming this so more Steemians can see it!