$elfish gene on Nostr: Only the laziest one didn't write about the great news. Allegedly BlackRock applied ...

Only the laziest one didn't write about the great news. Allegedly BlackRock applied for a bitcoin-ETF. The truth is that BlackRock didn't apply (https://twitter.com/APompliano/status/1669488210932531200?s=20) for a bitcoin-ETF. They applied for a trust. And that's very different from an ETF.

GBTC is a trust. You can't buy bitcoin out of the fund. BlackRock is a trust, that's what you can buy back. Although the media attention to this news will most likely bring an influx of liquidity to the bitcoin market. The GBTC/SEC legal process just took an unexpected turn - the consequences are unknown. What other possible developments are possible?

No one knows the future, but given all the past failed attempts to get bitcoin-ETF approval, BlackRock is unlikely to succeed here. Although there are quite a few smart and experienced bitcoin industry people inside the BlackRock team. Writes Pompliano. (https://twitter.com/APompliano/status/1669488210932531200?s=20)

But the real intrigue is that BlackRock is the world's largest fund with $8.59 trillion under management. Four of the world's largest investment firms, led by BlackRock ($8.59 trillion), such as The Vanguard Group ($8.1 trillion), Fidelity Investments ($4.2 trillion), State Street Global Advisors ($3.48 trillion) collectively own large stakes in all the key multinationals in the world.


But even this is not the whole truth. We will never know the real reports on the total assets of these companies. For example, as of the end of 2022, the size of assets under management of only one company of the big four, Fidelity Investments, was $4.2 trillion, and the size of assets under administration was $10.3 trillion.

But Fidelity has more than 30 allegedly independent subsidiaries of all kinds. For instance, there's such a company as Fidelity International, which was originally founded in 1969 as an international investment subsidiary of Fidelity Investments in Boston, and then, as it appears on their official website, spun off as an independent business in 1980. Since then, it has continued to operate as a privately held, employee-owned company. The assets under management of this so-called independent company are $663 billion. Do you believe that TOP4 Fidelity's parent company let its subsidiary go and gave capital to its managers? I don't think so. And you should.

Besides, Fidelity has a couple of dozen more of these supposedly independent subsidiaries, including banks, and even Fidelity Bank Nigeria, in our beloved country of the defeated CBDC. Why are we discussing Fidelity? Because another company, BlackRock, applied for the Bitcoin trust. And everyone is insanely happy about it.

Back to BlackRock. Who owns this company? Do you think the owners or the managers of the company? Well, they don't. For example Merrill Lynch has a bigger stake in BlackRock than BlackRock itself, while Merrill Lynch itself is almost completely owned by BlackRock. Confused? Then read this simple (https://vc.ru/money/399195-komu-prinadlezhit-blackrock-vnutri-chernoy-gory) explanation.

The fact is, the whole big four are owned by each other. And hundreds of other companies own BlackRock stock, even Warren Buffett. And all of them together own the whole world, including all the multinational companies, and through them they own more than 80% of bitcoin.

Who is the biggest BTC owner in the world, well besides Satoshi Nakamoto and Kim Jong-un? Mike Saylor. And who owns stakes in Microstrategy? Well, it's still the same big four led by BlackRock. So don't get excited and wonder how the market will behave when the SEC approves the supposedly BTC-ETF to the largest investment fund in the world.

They already own 4 out of 5 bitcoins in this "free" market. Do you really think BlackRock needs any licenses? They own all the companies in the world, and even the governments. It's better to think why and where will you be when bitcoin becomes very expensive, so expensive that you simply won't be able to buy it. But you can sell it easily to one of the BlackRock shareholders.