What if Blackrock has been buying #bitcoin every day for a year now, what if they bought 1.5x the daily supply every day for a year. That would've cost them about $2B and gotten them 492,750BTC. This being the safest way to grow a stack without jacking up the price. At some point it might make sense to jack up the price so no other players are able to afford a similar sizable amount. It would take another $10B to buy 20,000BTC at an average price of $0.5M each to bring the Bitcoin price to $1M, making the total stack worth $512B. Nice ROI to explain the strategy with for those on the board that didn't understand.
Discussion
I don’t know enough about the ins and outs but I would have thought they’d have to disclose this, and more to the point, someone would have noticed a holding that large appearing on-chain - can’t see Blackrock having thousands of wallets to hide such a large stash and don’t know how they’d have done custody under the radar.
Vanguard doesn't have to disclose anything. Its whole purpose it to guard ownership without disclosure.
There's probably an inner circle to BlackRock that have been doing that, leaving just enough profit for BlackRock to suck in investors.