Hey guys how y'all enjoying this bull run? So something got me thinking after reading this news about Blackrock filing to get more
BTC for their Global Allocation Fund.
Y'all can read the news here, it's a minute or 2 minute read:
https://cointelegraph.com/news/blackrock-buy-spot-bitcoin-etf-global-allocation-fundI mean, the funds coming from ETFs are really showing its worth. I can see the excitement on everyone's faces that bought BTC. I also have benefited a lot from it, engaged in different events like the Welcome to bull run on Bitget, some farming airdrops on Binance and many more.
But then again, do you think this might back fire on us in the longer term? We all know what these men are all after is to be in control and that's why BTC came into reality cancelling all that making everyone their own Government of their assets.
It's very vague when you simply say "control BTC" because you cannot simply control BTC. It depends on what the context is.
If you are talking about the bitcoin network then the entity needs to have more than 51% mining power to control the bitcoin network.
If you are talking about the bitcoin price then the entity needs to have a very huge supply of bitcoin but bitcoin being decentralized is distributed over huge amount of people.
It's not that easy to control or manipulate bitcoin price. Blackrock definitely has a huge amount of bitcoin supply but it will still be difficult for them to totally manipulate the bitcoin price.