Fact or Fiction? Theories Littered Across Social Media About Blackrock’s Alleged Bitcoin Buying Spree

This previous week, the U.S. Securities and Exchange Commission (SEC) delayed seven spot bitcoin exchange-traded funds (ETFs), together with Blackrock’s proposed Ishares Bitcoin Trust. Alongside this information, Into The Block metrics point out that from August 13 to the thirty first, massive BTC holders dubbed ‘whales’ elevated their caches by $1.5 billion. Amidst the worth consolidation and accumulation, a large number of crypto influencers on social media insist that Blackrock is secretly shopping for up all of the bitcoin.

Blackrock and Bitcoin: Separating Social Media Chatter from Reality

On August 28, 2023, the variety of BTC on exchanges teetered close to dropping beneath the two million mark, hinting on the ongoing development of bitcoin withdrawals from these platforms. Data from Into the Block reveals that within the latter half of August, whales amassed a staggering $1.5 billion in BTC.

This accumulation coincides with bitcoin’s value dip and the SEC’s decision to push again a number of spot bitcoin ETF purposes till October. Yet, ETF specialists remain optimistic about an impending approval, with many hinting that Blackrock’s application is nearly sure to get the inexperienced mild.

BLACKROCK WHALES ARE BUYING #BITCOIN pic.twitter.com/p7Oclv3irS

— BITCOINLFG® (@bitcoinlfgo) August 29, 2023

In latest years, Blackrock has turn out to be a scorching matter amongst monetary fans, given its stature because the world’s largest asset supervisor. The buzz is equally palpable round Blackrock’s spot bitcoin ETF. Numerous social media voices and crypto aficionados speculate that Blackrock is both hoarding huge quantities of BTC or intends to quickly.

Platforms like X and boards comparable to Reddit are rife with such speculations. For occasion, on Aug. 27, 2023, a consumer named “Whale” proclaimed on X: “Blackrock is shopping for your bitcoin.” This explicit submit by Whale garnered 2,768 likes and was shared 346 instances.

Last week: BlackRock are shopping for

This week: McDonald’s are hiring #Bitcoin

— Crypto Michael (@MichaelXBT) September 1, 2023

“Asset managers are closing their bitcoin shorts,” the X account dubbed “Cryptomoonplug” explained. “They most likely know one thing we don’t know lol. Blackrock is shopping for BTC,” the person added.

Another consumer, “Crypto Rover”, asserted: “Blackrock is secretly shopping for bitcoin and no person is aware of it… Blackrock is a serious shareholder in 4 of the 5 Bitcoin mining corporations.” Accompanying this declare was a screenshot showcasing Blackrock’s investments in these mining entities. This submit resonated with 2,774 customers and was shared 726 instances.

In a lighter vein, Crypto Rover quipped in another post:

Blackrock CEO: ‘Bitcoin will revolutionize finance’ — And you continue to assume they don’t seem to be shopping for!

Elsewhere, a video spanning over 13 minutes delved into why Blackrock may intensify its give attention to bitcoin (BTC). The video’s creator emphasised Blackrock’s impeccable monitor report with ETF approvals and posited that the agency, together with its CEO, acknowledges BTC’s inherent shortage. Drawing a parallel, the video likened this to Blackrock’s foray into single-family houses, however with BTC promising even loftier returns.

Such narratives and conjectures have gained momentum in latest weeks. However, concrete proof of Blackrock’s large BTC acquisitions stays non-existent. Countless social media posts nonetheless echo this sentiment, with influencers urging the neighborhood to safeguard their BTC from potential Blackrock buyouts.

“Blackrock is shopping for bitcoin,” declared Mr. Crypto on August 25. “Yet the typical particular person has already forgotten bitcoin existed. The final sign to purchase,” he opined. But till tangible proof emerges of Blackrock’s BTC investments for its spot bitcoin ETF, these ‘tall tales’ stay simply that – comical, but unsubstantiated tales.

What do you concentrate on the theories and tales littered all around the social media platform X and boards like Reddit? Do you assume there’s any reality to those tales? Share your ideas and opinions about this topic within the feedback part beneath.