BR

plushpaper

And here we thought BR would be tokenizing on Sol /s

rpujoe

BR is not yet selling BTC to their clients. This is just them filling their bags in preparation of doing so.

omg_its_dan

Interesting. Definitely seems low but they’d likely have other avenues to recoup. I assume coinbase agreed to liability terms with higher limits for situations like negligence. BR might also have their own insurance policies.

1sw331

BR suggest 28%

Responsible-Pomelo79

That’s really great to hear b/c I would just assume at this point that you/your family (future family) are going to need to managing when/how (lifestyle/goals) you retire. And if that’s not difficult enough, you’re also going to need to adjust (save more!) as advancements in technology, AGI and healthcare systems continue to push the average life expectancy where suddenly you have this 10 year gap to fill. US debt has reached a point where social security, Medicare services can no longer be sustained without government assistance (debt) and that’s the point where kicking the can will no longer be an option. I would highly reading Larry Finks annual client letter. He dedicates the first half to Retirement which ends with a section on hope. This is the wake up call that we needed. Keep in mind, that letter gets distributed to both the institutions as well as the plan investors. For example Blackrock currently manages 1/2 of the countries public school teachers. And those are the folks that are likely to push this message as a warning—don’t assume the government’s going to step in and bail you out when you’re expected to live to 100, 110. Who knows? Definitely worth reading and sharing. Just google it and you’ll get a link to the BR homepage. 🙏

Jamstyxx

BR1. It‘s a pay-to-spawn, kill-to-earn shooter. But they have a free to play mode too. It’s currently still quite trashy in my honest opinion, but I think it has potential with patches coming every few weeks.

SmoothGoing

BR is not the only one. Did you know there's about a dozen ETFs? They launched those to collect what's called an expense ratio - that's how they make money no matter what is going with price of bitcoin. There is no adequate explanation for claims of controlling or regulating anything. ETF operators buy bitcoin ONLY IF people buy ETF shares. And they must sell bitcoin from the ETF treasury if necessary. These entities are not in business of pumping and dumping things and losing their own money in the process.

Top_Effort_8789

I believe it is a reference to The Matrix, which is also a reference to Alice in Wonderland. [Follow the white rabbit](https://tenor.com/pt-BR/view/rabbit-follow-the-white-rabbit-gif-5233808)

that1rowdyracer

They won't. They have an institutional cold storage solution for high net worth. Due to them having a offline storage solution, means it's a slow process to liquidate. So that means even if BR wanted to liquidate all it's btc, it would take hours to do so.

XXsforEyes

I get the warning about circulating supply but If BR and Fink want to tokenize Wall Street they’re gonna have to pick some purpose-built blockchain to scoop up coins from on the cheap. How they could do this in a cost effective manner with a coin that’s already 90-100% in circulation I can’t imagine. As I understand it, they’re only starting to buy so being exit liquidity is pretty unlikely at this time imo. Of course no one goes blow-for-blow with 4-dimensional-chess-playing-infinitely-deep-pocketed BlackRock so there’s that. There are also three or four other big VC firms, including Fidelity that are eyeballing the top 15 (or more) RWA projects, and there’s substantial overlap across the top projects. For what it’s worth. IMO the bigger concerns is the BlackRock BUILD fund with its initial deployment of 100 million (a drop in the bucket for BR, I know) being deployed on Ethereum, and more importantly, the fact that BTC is gonna eat everything in a multi-trillion RWA space. Anyways, ear to the ground there’s a buck to be made in there somewhere.

Ok_Statement1359

isnt that what you want also when u buy btc? Also i don't see many retails buying btc, this is only because etf and BR and MS. And i don't think they will..Because those f bastards gonna take over all btc in circulations. T**hey playing different game**. Even now there is BTC shortage. They probably don't even care if u call this period bull or not. They didn't even start to pump newspapers, and media with crypto like they did last time on bull market. But when they do, (probably when btc go to 100k) it's gonna be f ridiculous, That's gonna be news of the century. And they gonna push it to the limit... I wouldn't be surprised if BTC actually go from 100k to 200k in like a short period of time.

Rey_Mezcalero

And people just eat it up. BR can manipulate people at will

Unrulysavant

I see. So do the BR/ F accounts act as a digital wallet then? Can bitcoin be transferred in or out of those accounts? Or is it locked by proxy?

BlazingPalm

Preference actions are pursued when an account withdrew over $100K in the 3 months or so leading up to their BR declaration.

karmapaymentplan_

Exactly, very disingenuous. The issue is the usual influencer types saying RIO or ONDO or whoever are partnering with BR. I pay no attention to them but going by the comments a lot of people do. That's the murky world of crypto twitter hype I guess. Same goes for all the AI projects saying they have a partnership with Nvidia when all they have done is applied for the open dev program.

Physical-State3960

Good point.. so if BR owns say 200,000 BTC.. they have to actually have it in custody, not on paper.. and I think that Coinbase is holding that correct?

omg_its_dan

I think he’s more of a pragmatist… yes he wants fees, but he also wants BR to be fully in the game in case Bitcoin really takes off. There’s massive value in being the #1 Bitcoin ETF if we’re all right about where it’s going.

Double-LR

Well if he maintained his laundering index opinion and the rest of the finance world left him in the dust and he lost a shit ton of money from the people that he makes his money of off… he’d probably be found dead in his car in the driveway one day, self inflicted of course lol His “personal” opinions are anything but. With the sheer magnitude of wealth BR manages comes a certain amount of real danger and I feel it would be incredibly naive to think otherwise. This man will move in the wind like a flag. It’s literally his job to do so.

Fabulous-Living1889

FTM hit over $3.60 last BR, its barely over $0.80 atm, so plenty of gas left in the tank 🚀

cxr303

And most BTC miners can still tell BR to buzz off? Congrats, BR has the same amount, but now of both... and so does every private wallet... but, only the limited supply fork will be the "true btc"... 2017 was 7 years ago... we don't need another civil dispute.

Competitive-Bat2245

Not any more! He just bought another 12,000 BTC. It is now MS 205,000 to BR 196,000 😁

bitcoin4life2024

On paper it’s owned by you - through BR - and held by CB. The world will learn one day, not your keys not your coins.

Son_of_Caba

“As the investment landscape continues to evolve, BlackRock’s initiatives could shape the future trajectory of bitcoin integration in mainstream portfolios.” BR buying their own ETF’s to move them over and include them in other ETF’s and products already owned by their customers. Thereby increasing demand for their ETF and bitcoin. In the end it appears to me to be accountants shuffling money around. But the real takeaway is that BR seems to be looking to get money from, even their own, to buy more BTC.

Tycus-54

OP laid it out as a negative thing. Like “don’t sell because BR and Fidelity will buy it all up” pretty much.

MachaMacMorrigan

The corollary to my comment is simple: CB going down is no accident. And why do you think that CB's primary long term interest is no with collusion with BR?

fx6893

>What numbers are correct? All the numbers you mentioned. >What am I missing? I don't know, you didn't make it clear where you are stuck. Here's a review of the math: Blackrock acquired net 12,447.3 bitcoin yesterday [Source](https://nitter.esmailelbob.xyz/pic/orig/enc/bWVkaWEvR0g5OVYtVVdnQUFDLVBpLnBuZw==) by purchasing them for $788.3M. There are approximately 900 new bitcoin mined each day. So BR acquired 13.83 times the supply mined.

Bred_Slippy

The paper was from 2022 and based on the assumption of someone in 60/40 stocks/bonds, and that the growth rate since 2010 would continue, which, let's face it, is unlikely. It was for BR's corporate clients, and a theoretical/technical exercise, not a recommendation. If you read the paper, between the lines it pushes 3% as a really conservative/safe allocation.

SmoothGoing

Company is promoting its product, the thing they make money from - the ETF. BR is only 1 ETF out of about a dozen. They all want people to buy up the shares and grow the funds real big so they can milk the expense ratio. No, it's not a scheme to price out lower and middle class; they want everyone's money and priced the shares at double digits in dollars, not 5 BTC minimum like futures contracts.

Fabulous-Living1889

Good point. Many more Gen Z's have become employed since the last BR, including those who have finished uni and are going into a labour market that benefits them. This will bring fresh retail money in, alongside the pump-chasing naysayers.

Fabulous-Living1889

I'd actually argue the last BR was more artificial than the current one. We had trillions in printed money pumping into the market and btc was posting wild gains in a relatively short time, then the second round of stimulus created an irregular "M" pattern and the fed accelerated the crash when trying to cool inflation. We also competing/coinciding with other markets pumping and profits were constantly being reinvested across both. We're now experiencing a run-up backed by institutions in a high interest rate environment, at a time of peak inflation, limited disposable income and no government stimulus... oh, and far less China money (There's certainly still China money going in, but less due to govt. crackdown and their economic situation). I see this being a slower, but more sustainable run with less gains but also less volatility. The trauma of FTX, Luna, Celcius etc. will fade from minds when late entrants get blinded by greed. I've already began to see this anecdotally; only a few months ago were family (with no clue) talking about crypto being a ponzi scheme, valueless, scam etc. now they're asking me how to buy bitcoins lol.

Nice_Category

You think BR and Fidelity are using the front facing page? Just because their website is down doesn't mean every computer in their company turned off.

Halo22B

I own Blackrock ETF....they hold Bitcoin on my behalf. If I don't sell my BR shares they CANT SELL the underlying BTC. See how an ETF works

SmoothGoing

Yes BR holds miner stocks which they wrap up and sell in other ETFs. Just like they hold bitcoin which they wrapped up in IBIT and sold to investors.

SmoothGoing

>Blackrock are buying up directly from miners They are not. Their execution agent is Coinbase Prime. And while gbtc keeps leaking and got ways to go, don't worry, BR is not looking for your 0.002 BTC.

SmoothGoing

BR doesn't buy bitcoin from little retail guy.

SmoothGoing

Their execution agent is Coinbase Prime. BR is not using their own money of course, but money from investors who are buying IBIT shares. Presumably the price is, or close to, market rate per whatever agreement they have with their BTC supplier.

rpujoe

Semantics. Also, BR hasn't even begun offering BTC to their customers. Fidelity just recommended 1% this week, so that's at least beginning.

rpujoe

Quick price prediction after doing some math... Feel free to fact check my math, but if just Black Rock and Fidelity both only allocated 0.25% of AUM to Bitcoin, that would add over $4T to the overall market cap giving us a 3.48x multiple to the current price using a slightly lower 104:1 multiplier than the [118:1 Bank of America multiplier](https://old.reddit.com/r/Bitcoin/comments/1902q7g/bitcoin_118x_multiplier_per_bank_of_america_where/) that at present still applies. This does not account for selling, but again it also doesn't account for any other asset allocation occurring by anyone else. Also, right now ETF inflows are gobbling up an average 2000 BTC per day. As inflows slow, let's say to just 25% of that amount, post halving that soaks all the BTC being produced and then some. So, in about 2 months essentially no more BTC will be added to the general supply so long as the ETFs are still accumulating. That's why I'm ballparking the multiplier ticks up to 120. So with just those two allocating .25% of AUM that gets us to $180K Bitcoin using a 120:1 multiplier that will very likely increase post-halving. Let's say BR and Fidelity do go full 1% allocation and the BoA multiplier increases to 150:1 and nobody else buys any Bitcoin, that is 20X the current market cap, aka $1M Bitcoin. I don't think people are ready for what's about to happen over the coming years.

Halo22B

Manipulate it how? BR wants a lower buy price, they sell the underlying BTC to tank the market so they can buy back cheaper.....whoops they can't do that unless ETF shareholders sell their shares....SEC involved. Ok BR is holding their own BTC so they try to do the same trick....except all the competing ETFs are hungry for BTC as are the plebs.....BR runs out of BTC pretty quick And the halving is coming, all of a sudden BTC production falls below gold and the world starts waking up.

Melodic_Risk_5632

And when it reaches that 21Million, it's practically worthless by then, because the ETF's took control over BTC. And that's not what BTC was intended for. One or two investment companies control over every BTC that's set allive. Hope Satoshi pulls the plug and ruins Ark & BR (if he or she or them are still 'round today )

58point10

This is the point. If they want in, it is to secure the network or have some say in the further development, not subjugate it. If any one organization gets to 50% control of the network then it can be seen as bad for bitcoin as a whole. The amount of money they would need to put in even now is not a small thing even for BR. And what are they gonna do? Double spend and wreck their asset? No. At most they fork. And then we see what the market wants at that point. Bitcoin continues and Blackrock coin fails. If they do well you’ll have just as much black rock coin as Bitcoin (if you self custody). History can rhyme.

Awkward-Computer1007

I went with BR I-shares because of the fee waive for the 1st year.. Fidelity isn’t waiving fees until August

SmoothGoing

Clients are buying shares of ETF, not bitcoin. Blackrock is not holding BTC, coinbase custody LLC is holding it for them. BR makes quite a bit in profits every year. But $4.8 billion that the IBIT ETF is worth is not their money. It's customer's money. And bitcoin that was bought with this money is not Blackrock's bitcoin. They are not free to buy and sell coins or to use the cash for something else. They buy and sell only bitcoin, only when necessary to rebalance the ETF.

castorfromtheva

BR buys OTC. So... not that likely.

MikedEACONYURMOUTH

Btc etf should have no effect on price cuz none of the transactions are on chain . It's not really bitcoin. BR does hold a lot of btc but we are back to trusting a financial institution to honestly report their holdings which is not bitcoin unfortunately:(

AguaFrescaaa

But what about the intraday buys and the time in between settlement? Like let’s say BTC gaps up 10% during NY trading hours. All those buys intraday and BR/Fidelity doesn’t have the BTC holdings yet so will they have to buy 10% higher? Same goes for the settlement time right? 2 trading days is a long time when it’s up only mode. So they’re left with the bag? And vice versa on the downside. Would they use futures?

iyarsius

No i'm here since 2019, i felt something huge in 2020 when i Saw all the money printed and the global contexte at this time, yes i was fucking bullish on bitcoin. But i dont feel the same now, the context is so different. Keep in mind that a bull run is something really huge, and to create a BR from this market cap we're going to need an even bigger event. i'm not saying it will not grow but maybe this time it will not grow as fast as we think

analogOnly

Bitwise,  an at lease one of VanEck, and BlackRock addresses have been made public. Bitwise came forth and published theirs to provide competitive edge, at least one of BR and VE's addresses have been identified. This post is garbage. Anyone who has been comparing the Spot Bitcoin ETFs with the Spot Gold ETFs already knows gold took a dip for quite a few months before going on a 10 year rally. People who thought this was a get rick quick thing, I hope they all sold.

Relevant-Hedgehog187

Kas is fair launch decentralised unruggable no pre allocation to Dev's. Will be top 10 next BR. If you want to make more 💰 invest in some Kaspa while it's at 10 cent 2usd min for 25. BTC max 100k.

Nightmare_Tonic

Can you ELI5? Maybe my English is bad, but I'm still wondering if this prevents a massive bull run because of enormous sell pressure. Are you saying in essence Grayscale is basically just selling their BTC to other massive entities like BR?

alaanx33

BR has a say in the company that invest into greyscale. They can own it indirectly. Also the point isnt that they own greyscale but that this dump was coordinated.

nyaaaa

I know that BR customers own part of master card. I do not need to look that up.

nyaaaa

BR does not own part of master card. BR customers own part of master card.

Bred_Slippy

I've designed and priced funds (TradFi). They're counting on enough investors staying to make more money from 1.5% fees vs moving to 0.2%. They would have carried out analysis on this. They may also be open to being acquired. They realise they can't compete with the likes of BR amd Fidelity on price.

Bred_Slippy

You state in your post it's 'owned' by BR. I show you it's clearly not, and you can't provide any evidence it is. They're competing companies. Now, BR could decide to acquire Grayscale, but that's a different story. DYOR.

alaanx33

Well BR owns a part of master card and probably other percentages on the other companies.

Bred_Slippy

Here's their backers. Where's BR? https://app.dealroom.co/companies/digital_currency_group 

Bred_Slippy

Greyscale's owned by Digital Currency Group. What makes you think BR own them?

Jaythiest

If I understand it correctly, the price impact for the purchase of $BTC FOR the ETF already happened. Blackrock already spent the millions of dollars to accumulate the $BTC they currently are now using for the ETF. People that are “Buying” the ETF are actually only LEASING the BlackRock$BTC and the buying and selling of BR$BTC doesn’t really have a direct influence over $BTC price UNLESS BR actually buys or sells actual $BTC That is my basic understanding

analogOnly

Can you post the link? I know I saw two articles one for BR the other for VanEck about their wallets being identified after large purchases.

SmoothGoing

BR does own some shares of mining companies (not whole companies) which they wrapped sold in ETFs to other investors. So what can they do to a mining company? Threaten to dump their shares? They can't do that. Those shares are backing whatever ETFs they are advertised to be in. And BR is just happy to collect 0.25% expense ratio on $1.2 billion and growing NAV without messing with how bitcoin works.

ivR3ddit

BR = Bagholder

analogOnly

lol "have almost no one show up."  It's like he's aware of the cramer effect. Meanwhile every day has been another 1bln flow into BR.

identicalBadger

I read this too. But I was far more alarmed to see Coinbase's own insurance situation printed out in black and white. When you buy from Blackrock, you're buying a share of their Bitcoins held at Coinbase, nothing more nothing less. They couldn't charge a 25bp fee if they were paying Llyods or someone else to insure the assets. Now in the case of Coinbase: $114 billion in assets under custody ("safeguarded") with $320 million in insurance. Each cold wallet is insured to $100 million, but again, there's the $320 million global cap. It's alarming that Coinbase's assets to insure ration is so high, and more so that the SEC allows them to even be a custodian to a publicly traded fund. Blackrock indemnified themselves, and are happy to make their money at pretty much no risk. [https://www.coinbase.com/about](https://www.coinbase.com/about) No idea how large Coinbase cold wallets are. But it seems crazy that regulators allow such a sky high insurance to assets ratio, especially considering that most of their customers aren't even close to being accredited investors. I'd actually HOPED to find something more reassuring about the insurance situation, either from BR or CB.

TheCryptoDeity

Like tomorrow or any day now, rly It makes sense for BR to be buying otc to accumulate without moving the price up It does not make sense for sellers to be selling otc unless they are getting a whopping premium And of course, right after selling otc for a premium, the optimal move for those sellers is to immediately buy back from the open market at a relative discount, thus raising the price anyway The only group who doesn't want as much btc inside the etfs as possible are the miners. Less circulating means less fees. Literally, all other parties want circulating supply to go down, ranging from asset managers to governments to individual holders. However, the etf issuers know that once the price goes up, accumulating more will be proportionally more difficult relative to the price change, as managers they want to front run this effect. However, the second largest asset manager will want to check the first largest by settling for less sooner and working to elevate the price. Once the second largest has made a sizeable accumulation and then also notices the first largest is accumulating at a higher rate, theyre incentivized to raise the price to minimize how much they'll fall behind. This is because money congregates to liquidity, and the largest etf will be the most liquid, and if it's too liquid relative to the others, then it'll push them out as traders go to the higher volume and better priced instruments. So it's incentivized by the smaller etf issuers to try and keep the distribution among themselves more even, the way to do it is to slow accumulations by raising the price. So yea, any second now

analogOnly

We've been able to find at least 1 of VanEck's wallet addresses and 1 for BR, so we can see those purchases. However I agree there is a naked shorts fear here regarding selling shares which are not backed

uhhh-000

Let me help here BR will never keep more than 100M in any one wallet Banks and big businesses act accordingly due to similar issues with insured deposits

analogOnly

There's a website posting articles on the latest. Check blackrock's public address in google someone figured it out by watching CB's wallet when there was an annoucement that BlackRock was buying like $250m worth of BTC and that same day a BTC transaction happened from coinbase to a wallet suspected to be owned by BR. They also figured out VanEck i think more recently. You'd have to google it because I don't remember which site.

SwissPoliticalSystem

Governments hate BTC for obvious reasons, Blackrock has close ant good relations with the US and other governments. Blackrock is run by very astute people whose IQ is way above their EQ (Ethics Quotient). This means that it is prudent to divest from BTC if you no not want to radically increase uncertainty and risk. Of course, Blackrock could be great for BTC's value or a disaster although Blackrock will probably make money off BTC even if it sinks into oblivion, as long as they control the timing. Black rock does not think, like many here and Michael Saylorr, etc.,, that BTC is fantastic,eit sees it as an opportunity to make money, just like BR tries to make money of investments in Apple, etce, it does not matter to BR if Apple goes down as long as they do not get caught and make money in the process. Black rock is about making money .

SmoothGoing

If the point is to lower the price of their ETF they are hurting all earlier clients who bought the ETF at higher price. Why do that? They don't need to be changing price of their ETF. They do not care what price anyone bought the ETF for, they just collect the expense ratio and want the ETF to be as big as possible. BR is not in business of trading BTC so no they are not buying and dumping.

MachaMacMorrigan

Don't forget TradFi takes +2 days to settle. Give cash at spot price to BR on Thursday, settle on Tuesday st Tuesday spot price (Monday is MLK Day). *This is not real-time!* Also, the Thursday/Tuesday difference in price goes into BR's pocket. Nice work if you can get it. Further, aggressive buying in TradFi means deciding to act in less than a month or two. Different timescales apply to dinosaurs.

Satoshi0323

Obviously Bitcoin will be owned by BR’s ETF holders but the Bitcoin will be bought and hold by BR(Coinbase as their custodian) on behalf of the investors.

dormango

It doesn’t mean BR indirectly owns a ton of BTC, it means retail investors will indirectly own BTC. You’re talking mainly nonsense mate.

SmoothGoing

Describe the process by which BR is doing it. Also include the dozen other ETFs you forgot about.

SmoothGoing

There is always a buy and sell side. If someone is buying OTC someone else has to be selling to the buyer OTC. There is no fund of bitcoins to buy from and sell to. When someone sells ETF shares they sell them to another buyer and no bitcoins are involved. If BR has to sell bitcoins OTC to another buyer they agree on the price and the trade does not affect prices on exchanges. So q2 does not make sense.

SmoothGoing

Buying and selling is off chain. Coinbase does not buy bitcoins from people. Other people buy bitcoin from other people through coinbase. It's an "exchange." Every sell also involves a buy. Someone is buying from someone selling. Mike and BR may or may not be buying OTC. OTC is not on exchanges. No trade on exchange, not change in price on exchange. Price is is always where the last trade happened.

Disastrous-Dinner966

There's no way to buy $1million of an ETF without someone selling you $1million of the ETF. If 'Nobody initiates sells' your trade will sit there unexecuted. If your trade crosses in the secondary market, you may just be buying the shares of the ETF someone else is selling and it doesn't affect the underlying directly. If your demand is greater than the supply available at that price, you may trigger creation units. The AP buys the BTC, ships it to coinbase, alerts BR, and BR creates new shares for you. So trading in the ETF doesn't exert direct pressure on spot prices until there is a supply or demand imbalance in the ETF shares. Then new ETF shares are created or old shares are redeemed as needed, with direct effects on the spot price.

iCanFlyTooYouKnow

This is all good, but what can and how will it effect the BTC. Will BR and the others really but BTC for every share that they sell? Or will it just be a ponzu scheme for WS to try to fuck us over like they did with AMC that is still struggling with naked shorting ect.

crazy_retarded_nerd

That’s impossible to verify BR has some real BTC. 0 bitcoins been bought. They trade paper. That’s why no price moves.

81458145

Can’t find that info on BR’s website, but IBIT opened at $27.94 and it looks like bitcoin at 9:30 was ~47895 27.94/47,895 = ~ 0.00058 BTC They should have it listed, but it’s possible they didn’t have an exact price at open and need to wait for all the sources to determine exact BTC price at 9:30am.  The btc etf in canada has it listed so I’m sure IBIT will post theirs soon

Melodic_Risk_5632

Institutional traders who didn't like this Grayscale & BR play, decided to short this ETF, and it turned out fine. If the ETF continues to sink, it will devalue the real BTC because it is live assessing the true value according to the much more real market that is tied to companies, earnings, and jobs. Prepare for some major tank movement.

Drspaceman1717

To all the noobs who thought BR was going to buy $5 billion in BTC on Coinbase at the opening bell.

Hot_Highway_2632

you can trade 400k shares 40 mill times, or you can trade 1 share 40 mil times. unless you increase the shares, you won't buy btc. i think 1- you assume. a 20 mil shares bought for long hold, no proof. 2- probably BR has some smart system to buy/sell btc on demand so it is not like they are buying and holding btc or anything. hope i am right, but i don't know shit

Possum577

If it's coming from BR's pockets, they've already put it in.

tradesurfer2020

Is the common expectation that the price will immediately rise if the BR (or others) ETF is approved? Just because it will “legitimize” BTC as an instrument of trade— what would make the price go down? And could this all raise value if other shit I mean alt coins?

indigesture

With the forthcoming BR ETF fund (if approved); when would it be a right time to sell BTC? (My investment is nothing but an extremely small fraction of BTC). \*Also, do you recommend selling all of it?, or should one keep some part invested as a reservoir? ...Sorry if my questions aren't quite deep, but I'm no expert on stonks. Thanks in advance; good people!, have a memorable year (in the best way possible).

moonst1

Do we know that BR will be required to have the BTC they manage? Maybe they need only a percentage or own the current value of BTC but in USD or bonds or whatever.

SmoothGoing

BR's ETF coins will be held by conbase in a coldcard in Brian's basement. But Conbase is still an exchange where *other traders* with their own coins will buy and sell.

Ambitious-Dust-3129

Hu3 Hu3 BR NÓS SOMOS A FORÇA HODL 🇧🇷🇧🇷🇧🇷

btc21million

Invesco is Novogratz so I rather don't interpret this - but I also don't know about the $5b comment...lol ...and with BR I was also off by a cool $1b - BUT we're talking here about inflows in the first week, right... https://www.trustnodes.com/2024/01/05/the-bitcoin-etfs-are-unofficially-approved-as-blackrock-amends-19b-4

SmoothGoing

People will buy and sell ETF shares, not bitcoins. Pull what move? Bitcoins backing the ETF cannot be randomly sold by BR. Since the coins are.. backing the ETF.

SmoothGoing

51% "control" of what? BR does not mine. BR has customers' funds, it's not their own money.

EccentricDyslexic

Larger chunks up to 100k. Probably 40%. Then at each say 10k increase another 10% (of initial holdings) up to 140k. Then hodl the rest. Let the rest go at 200k or just hodl for next BR:-)

TyroneWallinson

Ye $TRAC/original Trail is an AI and gaming coin on the $ETH and $DOT. Ecosystem. While $TRAC/ Trac Ordinals is a BR-20 token

Aerocryptic

BR ain’t buying or selling shit

Aerocryptic

The idea that BR is manipulating the market pre etf is quite funny

TheDumbInvesto

Think about it. What is the reason for BR to do that with gold? Say gold gives an average yearly return of 8% but if BR thinks they can make 12% in equities, they can use that money to invest in equities and make themselves 4%. Now with bitcoin, what can they do with the cash? Invest it where to make more money than bitcoin ? There is absolutely no instrument that can make more than bitcoin. So if at all anything, they may invest gold IOUs in bitcoin but not the other way around.

kosmoskolio

My personal opinion is that Wallstreet has been and is heavily in crypto for more than 6 years now. We just don’t see it in their reports as it is being covered due to legal risk. And make no mistake - if we had actors like 3AC, FTX, CeFi-s back in 2020, we’ll have even more this time around. Crypto is still an unregulated market. This allows for a lot more abuse without going to jail. If FTX hadn’t gone bankrupt, all of the shit they did would have gone under the table. The cops didn’t catch them, they just reacted after the shitstorm was present. But don’t get me wrong. I am not saying BTC will have a low top. I am saying we (the little guys) will once again be targeted by the bug guys. News will flash with titles like “BlackRock CEO says BTC will go to 500k”, etc. And when enough fish hop, they will pull the string and make their profits. The biggest problem here is that while BR can invest 10 billion, make 100% profit and exit happily, the little guy is looking for x10. So by the time BR is ready to sell, retail is just getting horny.

SmoothGoing

BR isn't backing it.

truebastard

>They literally have board and top level execs from the likes of BlackRock, Goldman Sachs and Delta Airlines. I'm not gonna lie, I chuckled a bit when I read Delta Airlines thrown in there with BR and GS.