Quote from: dezoel on August 12, 2025, 05:03:22 AM

Quote from: shield132 on August 10, 2025, 01:10:40 PM

BlackRock and other big organisations forced SEC to accept Bitcoin ETFs. Do you know what this means? This means that there is a huge interest from the richest organisations in the world, those who own shares in thousands of the richest companies. They have been buying lots of Bitcoins and continuing so, which means that we should hold tight because we hold something that they want. Since there is such an aggressive investment from them and there are also lots of countries getting interested into creating a Bitcoin strategic reserves, this means that Bitcoin will reach $1M.

When you control 10+ trillion dollars all from the same place, it's easy to give orders to even government. They are even closer to 12+ trillion dollars right now. By comparison, let me put it this way, the entire debt of USA is 33 trillion dollars.

So it means, Blackrock is 1/3 big as USA whole debt, they are seriously huge, and I am pretty sure there are not that many nations in the world bigger than Blackrock, maybe a few? That is why it's quite obvious that they have the power and the money to give orders to USA easily, specially SEC. That is normally a scary thing, that power should not be something we need to celebrate, but in this one instance, it was something that benefited all of us in the crypto world.

Blackrock or any other financial institution cannot give orders to government or any legal authority. They even depend on the government because without the help and protection of the government, they wouldn’t be where they are today.

Blackrock and financial institutions do not force and order the SEC to approve ETFs because they do not have the authority to do so. If I remember correctly, the key factor that forced the SEC to approve the bitcoin ETF was because they failed to provide a valid and reasonable reason for repeatedly rejecting Grayscale's ETF. The court warned them and asked them to reconsider their stance on bitcoin. Taking advantage of that opportunity, Blackrock and many other investment funds also put significant pressure by jointly filing bitcoin ETFs. That left the SEC with no choice but to approve the ETF.