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With 1.5 billion worth of holding, these corporates hold the power to manipulate crypto market. I hope no company start buying Bitcoin anymore!
Is the term "manipulation" still applying with Bitcoin?
In 2017, we've seen lots of market manipulation because at that time, the total market cap of cryptocurrency is much lower than that of it is today. Now it's harder to manipulate the crypto market, and I don't see these companies having the power to manipulate the market.
For me, I don't see any reason for Blackrock to buy Bitcoin aside from the fact that they see it as a money-making machine. Let's not forget that Larry Fink is one of the famous businessmen who criticized Bitcoin back a few years ago. Now they're integrating it into their own company, and continuously buying Bitcoin. They can sell whatever they want and since they have the power, they can do it, but as long as there will be buyers then everything is good... or is it?
