Nostr Web Client

Jor 1y ago

Fucking blackrock has 11,000 bitcoin now

Something fucky going on for sure.

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Discussion

nobody 1y ago

Actively traded ETF?

They can buy/sell with cash-in to accumulate at the price they want?

It’s all so confusing.

Fidelity claims a passive fund while Blackrock seems to be actively traded.

Jor 1y ago

Yeah I don’t love it tbh

Even Gensler said “this is not what satoshi had in mind”

Impossible to know wtf is going on

Jor 1y ago

We can definitely still fuck this up.

That’s the scary thing to me

nobody 1y ago

Fractional = death.

Maybe not for BTC but definitely for the institution playing fractional games. Then the rugging, then the bailouts, then …………

nobody 1y ago

I can’t figure out if Gensler is the good guy here. He may be or at least was trying to be.

If Blackrock believed in BTC so much they could have just done what MicroStrategy has done. MassMutual did. Tesla did too. And other companies.

Lois 🧘‍♀️🫖✨🙏 1y ago

No he's not a "good guy".

He expressly prohibited the ETFs from being redeemed in Bitcoin... He knows there could be a run on the banks who sell the ETFs and he is preventing plebs from exiting the existing system....

nobody 1y ago

🤔🧐✅

Sikto 1y ago

What do you mean by actively traded? It’s spot, with btc in reserves, so they are always buying and selling btc. All of them.

nobody 1y ago

Update on @Blackrock $IBIT holdings: Yesterday I reported that @BlackRock moved 50% of their ETF into cash. Well today they updated and they did indeed as I thought buy the dip. They are now back in 100% in Bitcoin. 👀

How did they know ? We have a new set of whale traders in the game. The ETF Fund managers can trade in and out of cash, any cash, any currency, forex included.

nobody 1y ago

The ETF issuer fund manager has full authorization and right to move in and out of Bitcoin in any proportion. It is an actively traded vehicle. This is OK but we were misled.

Sikto 1y ago

How? I’m not following.

Sikto 1y ago

Of course it’s actively traded. They have to match BTC to the dollars that are coming in and out?

nobody 1y ago

I think this all settles down as the funds grow. Too early to tell anything.

nobody 1y ago

Im actually glad Blackrock does not self-custody. They are holding their bitcoin at Coinbase so I have at least some faith their ETF is backed by actual bitcoin. But there always is a chance of fuckery going on.