Hot take: I think the Blackrock/Larry Fink mishegas goes a lot deeper than what’s being bandied about. I personally think the 401k/pension holders and administrators are realizing that their entire portfolios are insolvent and will lose purchasing power for the rest of the fiat lifetime as inflation outstrips any returns on any financial assets, especially bonds. The govt printing money to bailout a behemoth like BR will debase the currency so much that it doesn’t even matter what BR is holding as a custodian. The only way for them to continue in their management of funds role is to provide something that will offer an insurance hedge against the total collapse or debasement of their portfolios. They have figured out that the answer is Bitcoin, but they can’t buy enough of it, and are scrambling to figure out what to do as they think about billions of people ready to go full French Revolution on their asses if the current trajectory continues. The big boys are not responding to customer inquiries. They are panicked af.

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