/biz/ - Business & Finance

>>57281413
For these guys that is small potatoes

>>57281413
> owns
uhh, whats blackrock wallet address?

don't care
not my problem

>>57281454
ask coinbase seething bear
they're the ones custodying the coins

>>57281413
What is that? Like 10000 bitcoins?

>>57281541
11439 to be precise

>>57281545
11439.21980 to be preciser

>>57281413
BlackRock:
>hello CB, it is time to settle our etf for the day, we would like to "purchase" some bitcoin
Coinbase:
>certainly Mr Fink, here you go, i will now "update" the balance

>>57281568
>decentralization
>as Satoshi Yamato willed it

>>57281511
HOW THE FUCK DO WE KNOW? WHAT'S COINBASE'S WALLET ADDRESS?

>>57281413
So is Blackrock trying to bust out crypto and possibly take the banks with it, triggering another government bailout to save retirement funds or something?

>>57281568
Proof that this is the case?

>>57281511
>just buy etfs without knowing how much btc they actually hold bro

>>57281413
saylor has like 10 times that.. it's nothing

>>57281454
>uhh, whats blackrock wallet address?
https://platform.arkhamintelligence.com/explorer/entity/grayscale

>>57281730
>HOW THE FUCK DO WE KNOW? WHAT'S COINBASE'S WALLET ADDRESS?
They don't have ONE wallet...
https://platform.arkhamintelligence.com/explorer/entity/coinbase

>>57281413
Some short seller is about to get liquidated.

>>57281413
how come the ETF doesnt have the same price as bitcoin, i thought it was 1:1 but most etfs are in the $20-30 range

>>57282437
Try ETF X 1000 = BTC price. Any difference is the NAV

>>57282437
Look here
https://ark-funds.com/funds/arkb/

Multiple that by 1000

>>57282437
ETF shares have a fixed basket of Bitcoins not 1 Bitcoin per share, the movement in price will be the same and that's what matters.

>>57282484
that sounds like a tether
its BTCT

>>57281550

>>57281576
show me where in the white paper it says that single entities are not to own large amounts of bit-coin???
show me how blackrock can use their 10k btc to change the minting schedule or double-spend (the actual purpose of decentralization in btc)????
getting real tired of this bullshit "argument"

>>57281413
So isnt it in their interest to moon the price as high as possible, innit?

>>57281413
HOW THE FUCK DO YOU TAKE $500 BILLION IN BITCOIN OFF THE MARKET AND THE FUCKING PRICE DUMPS, HOW IS THIS EVEN POSSIBLE JESUS CHRIST

>>57283089
I guess they just really much hate you.

How many in circulation? 19 billion?

>>57284305

I mean 19 million. How many does Blackrock have?

>>57281550
good bot

>>57281413
They’re trying to crash the market.

>>57283089
I can't understand this too. Is anyone able to explain?

>>57284374
>>57283089
These posts are stronger sell signals than my hairdresser whos all in on icp

>>57282437
ETF share price divides the total value of assets under management (AUM) by the number of ETF shares.

Let's say you bought a share of a total stock market index fund like VTI. VTI tracks thousands of companies by market weight. It has billions in AUM and its allocation is completely allocated according to the index it tracks. However, VTI has its own number of shares in itself so that it can be traded on open exchanges. Therefore, a single share of VTI will not have a straight correlation to the stocks it holds but it can be calculated to the share.

Spot Bitcoin ETFs are the same. Blackrock, Fidelity, etc buy Bitcoin at various prices. They hold so much BTC in the ETF's AUM. There are so many shares of their ETFs. Therefore, the total BTC in their AUM is divided by the ETF shares. If you reverse calculated it you would get the value of BTC.

Let's say they have 10k BTC and BTC is worth $45k but they have 1M shares. 10k BTC x $45k = $450,000,000. Divide that by 1M shares and you get $450 per share of the ETF.

>>57284374
Why, they’re Blackrock. How DARE you demand to see their papers! They just own all of that totally legitimate Bitcoin, okay? They just do!

>>57281413
ETFs are all fake shit.

>>57281454
Stop asking anti-semetic questions. Of course Blackrock would never lie to us.

>>57283089
price manipulation.
Bitcoin was created to save us from Wall Street and it just died.
What they did to gold and silver they can now do to Bitcoin too.

They are using OTC buys to completely hide their actions from the chart.
What exchanges displays and every indicators are now false information because it does not display the reality of the OTC manipulation which is now more important than the smaller on chain activity.

Blackrock just made Bitcoin into an off chain OTC scam and destroyed the entire value of what the current on chain economy created.
Welcome to the new world where Bitcoin has no value because you will never be able to see what they are doing in the shadows while they will dangle something in the "official" charts for the plebs to make you lose money from their manipulation.

>>57284937
is this bullish or bearish then if i already am 100% in btc? sorry, retard here

>>57281413
What how's that even possible?

>>57284964
You will underperform crypto and lose money at the end of the bull run when you will experience a Wall Street fully enabled rug pull that won't give you the timing to exit.
Bullish for every asset not yet under their control. Mostly altcoins.

>>57283089
Because people are selling grayscale (the biggest etf due to being an ex trust), and moving to blackrock due to lower fees in their etf.

>>57283089
>>57284374

you are so silly and young
1) they bought it earlier and probably have been accumulating it for years
2) the decision to accept the ETF was probably their making as the world's largest owner who acquires and appreciates assets
2A) the above is due to the fact they have a lot of politicians in their pocket, including Gary
3) everything happens before the public knows anything, they also use OTC deals for comfy pricing and timing

source: I simply work in finance

>>57284461
The fact that people can't tell what a scam crypto and btc are just from your deluded post is evidence the world is beyond redemption. This has clearly been a government operation designed to rugpull normalfags and in the end to bring about cbdc.

>>57285484
>>57285587
i'm like 100% in btc because i've only ever lost money on altcoins, what should i buy instead? doge? icp? should i sell all my btc now or will it be going back up first?

>>57285617
>This has clearly been a government operation designed to rugpull normalfags and in the end to bring about cbdc.
Good riddance desu.

>>57281413
that's not very much money

>>57282577
BTC was always a nwo coin

>>57284964
BTC is forever frozen EOU $43k like gold, until someone does "checking"

>>57285617
you had 1500 years

>>57281511
>owns
>custodian
That's not what owns means

>>57281454
This so much. They will never post the wallet and neither will the other ETFs because they aren't actually buying any BTC lol

They simply sell "promise to buy you a BTC per share" but I 100% guarantee that they'll sell wayyyy more than 22m shares of spot BTC lol

The SEC are assholes for allowing this.

If we have any turboautists they can potentially look at buys/sells on any given day for the next week or 2 and corroborate if anyone big has been buying up anything remotely close to what blackrock has been saying they buy (or other etfs)

>>57284937
Meaningful protracted market manipulation is impossible, "paper gold" is shiney rock fetishist fantasy driven by misunderstanding futures contracts, gold has performed fine, 45x since '71 while monetary expansion has been 42x, very respectable for something with 2% annual mining inflation.
>b-but silver
Silver is a shitcoin.

I dont understand what an ETF is. Are you buying bitcoin or not? Is it like buying the idea of bitcoin?

>>57286846
But how does fractional reserve banking work?

Smart people are accumulating as much BTC as possible now. After a few months of ETF inflows there will be a shortage of BTC available on the open market and the price will moon.

>>57286953
>smart people are buying after a 100% run instead of selling
i dont know if this is a bot or someone is actually this dumb either way is entertaining, it reminds me of 2020

>>57283089
They probably don't own a single BTC but (((they))) will certainly control the price from now on and (((they))) will ensure that (You) never get rich off it.

>>57285939
BTC should go to 100k this or next year, but it's difficult to predict what happens there.
It may later go back to 50k.

Diversification into ETH for a target at 8k is a possibility, but you will have to learn trading and taking profits properly.

>>57286996
>it reminds me of the year before BTC 20x
Yet you're bearish

>>57281413
So they are buying small wallets, I'm out bros i need that money to help my starcraft bros
GL

>>57281945
>it's different this time
did you learn nothing from GME?

>>57287225
So no proof, got it.

>>57287280
how can i have proof if they won't provide it? and asking for it is anti-semitic.
>just trust blackrock
lmao

>>57284937
You have it backwards.
The etf gets its price from aggregate of coinbase, kraken, and bitmex.

Coinbase, kraken, and bitmex do not get their price from Blackrock

Do you understand? The ETF could be permanently under or over its NAV and that will not affect the real world price of bitcoin. The price the ETF uses will continue to come from real world buying / selling

>>57287466
so what you are saying is that the ETF that others are buying/selling doesn't really affect bitcoin's price? huh?? how the fuck is that bullish and why am i getting fucked here?

>>57287466
Blackrock controls the price because they control the buying pressure and that buying pressure avoids exchanges by using OTC buys making exchanges obsolete.
Take a look at the violence of the dumps for BTC miners and microstrategy to understand the violence of their actions.
Microstrategy's market cap values their BTC holding at 34k right now.
You will only get the shadow of reality in exchanges now.

Maybe one day we can create a new blockchain using AIs to automatically remove Wall Street influence and confiscate what they try to control, but Bitcoin won't achieve this now.

>>57281550
11439.21980459 to be precisest

>>57287686
buttcorn is over
mark my words they will make it proof of stake

>>57285617
I literally explained what an ETF is you moron.

>>57288078
>literally
Why are so many reddit faggots addicted to this word?

>>57281413
good thing its pow

>>57282505
Gotta admit it did remind me of their cirklejerking humor but usually the first one is fine...its the 20 others that rustle my jimmies.

>>57288524
This nigger gets it

SHOW US THE ADDRESS LARRY

>>57283089
Talmudic kike magic
They didn't actually buy any bitcoin or hold any bitcoin
They just say they do
These ETFs are for speculating and for kikes to ruin crypto like they have ruined stocks

A question I have, lets reverse the roles now. Let's say I am a billionaire/millionaire or fund manager. I can buy millions worth of bitcoin now via the ETF without affecting the price?

>>57286846
you're so incredibly stupid and ignorant. Coinbase X whatever other custody partner will be auditable and provide proof of reserves. Kraken already does this guy example. let's you confirm it yourself.

if ETFs can buy billions in bitcoin without moving the price up, does that mean they can sell their fake bitcoin without moving the price down? does any of this even matter at all?

>>57281953
That's not any different from how normal ETFs work. They can be created backed by a mixture of underlying assets and equivalent cash value (i.e. short) and people can short them on the market up to 1000%. Look at XRT for a prime example.

t. /GME/

>>57282396
That's Grayscale's wallet, not Blackrock's

>>57282577
This and checked. People banged on for years about mainstream adoption and finally it begins happening and they're like, muh corpo coin now no likee

>>57281413
I literally don't care. Any entity that has money/fiat and is willing to trade it for BTC in any capacity is more than allowed to do so. Ever heard of a free market stupid nigger?

>>57286846
Tradfi niggers got nothing on Bitcoin. You fail to understand truly sound money is unbreakable in any market environment, that is sort of the point.

>>57284374
>>57283089
sell the news. thats literally all it is. whales selling on binance and such.

>Uhhhh sweety BlackRock doesn't hold any Bitcoins, it's all a conspiracy by da jooooz to make me poor

>>57281541

>>57281413
Blackrock:
>buys 11k Bitcoin

Bitcoin whale boomers:
>"hurrr we must sell and dump BTC 15%"

So the ESG-peddling hedge fund jews were the based ones all along.
Huh.

>>57287718
>BTC will become proof of stake
I honestly don't see why BlackRock wouldn't do this. There's nothing ESG-friendly about PoW, which BlackRock would normally avoid.

>>57290065
>thinks Fink actually cares about ESG and didn't just use it as a political manipulation tool
Loving every laugh

>>57289336
yeah and the rating agencies back in 2007 gave out AAA ratings to anyone willing to pay up.
you're advocating for exactly what (the idea of) bitcoin tried to destroy.
>muh audit le CEX
kek, yeah but you won't be able to audit them unlike the blockchain.