🥇 BlackRock, with its $9.3 trillion in assets under management, has publicly endorsed Bitcoin and is actively pursuing an ETF.
This figure means BlackRock's size is equivalent to 34.57% of the US GDP and 47.93% of China's total GDP.
When comparing BlackRock's assets to the economic outputs of the US and China, the scale of its management is astounding.
No doubt blackrock etf will lead to an increase in btc/fiat ratio (price) but comparing blackrock Aum (balance sheet) to a country’s gdp (income statement) is apples and oranges.
Blackrock made a little under 18B in revenue in 2022 (GDP equivalent -> income statement). No small sum but it pale in comparison to trillions in gdp.
No matter, while Bitcoin and the layer 2s and 3s are all still early in development, Bitcoin doesn’t need a government or corporations purchase to continue to function, thrive, and achieve its goal of censorship resistant, trustless, transfer for value.
Tick, tock, another block mon ami.
