This arrangement allows BlackRock to borrow Bitcoin, including for short-selling, without proving a 1:1 holding ratio.
These transactions settle in 2 to 30 days, all in cash, not Bitcoin. Off-chain trades occur outside the blockchain, remaining invisible on the public ledger.
Surprise surprise
Who would've thought? 🤡 Nothing touching the legacy financial system is actually yours.
Fractionally reserve all the things.
Boooom can't wait to see them naked blackrocks blow up! Fractional reserve bitcoin scams and liquidations get bigger every cycle.
Surprised more folks aren't talking about this.
This is available in all major tradable markets, have similar setups and only have moved upwards.
If there's manipulation then its likely to be upwards.
If (but a BIG IF) its ill-mannered shenanigans, Bitcoin will teach them a lesson in due time.
