Fact or Fiction? Theories Littered Across Social Media About Blackrock’s Alleged Bitcoin Buying Spree

This past week, the U.S. Securities and Exchange Commission (SEC) delayed 7 spot bitcoin exchange-traded funds (ETFs), including Blackrock’s projected Ishares Bitcoin Trust. Alongside this news, Into The Block metrics bespeak that from August 13 to the 31st, ample BTC holders dubbed ‘whales’ accrued their caches by $1.5 billion. Amidst the terms consolidation and accumulation, a large fig of crypto influencers connected societal media importune that Blackrock is secretly buying up each the bitcoin.

Blackrock and Bitcoin: Separating Social Media Chatter from Reality

On August 28, 2023, the fig of BTC connected exchanges teetered close to dropping beneath the 2 cardinal mark, hinting astatine the ongoing inclination of bitcoin withdrawals from these platforms. Data from Into the Block reveals that successful the second fractional of August, whales amassed a staggering $1.5 cardinal successful BTC.

This accumulation coincides with bitcoin’s terms dip and the SEC’s decision to propulsion backmost respective spot bitcoin ETF applications until October. Yet, ETF experts remain optimistic astir an impending approval, with galore hinting that Blackrock’s application is astir definite to get the greenish light.

BLACKROCK WHALES ARE BUYING #BITCOIN pic.twitter.com/p7Oclv3irS

— BITCOINLFG® (@bitcoinlfgo) August 29, 2023

In caller years, Blackrock has go a blistery taxable among fiscal enthusiasts, fixed its stature arsenic the world’s largest plus manager. The buzz is arsenic palpable astir Blackrock’s spot bitcoin ETF. Numerous societal media voices and crypto aficionados speculate that Blackrock is either hoarding immense amounts of BTC oregon intends to soon.

Platforms similar X and forums specified arsenic Reddit are rife with specified speculations. For instance, connected Aug. 27, 2023, a idiosyncratic named “Whale” proclaimed connected X: “Blackrock is buying your bitcoin.” This peculiar station by Whale garnered 2,768 likes and was shared 346 times.

Last week: BlackRock are buying

This week: McDonald’s are hiring #Bitcoin

— Crypto Michael (@MichaelXBT) September 1, 2023

“Asset managers are closing their bitcoin shorts,” the X relationship dubbed “Cryptomoonplug” explained. “They astir apt cognize thing we don’t cognize lol. Blackrock is buying BTC,” the idiosyncratic added.

Another user, “Crypto Rover”, asserted: “Blackrock is secretly buying bitcoin and cipher knows it… Blackrock is simply a large shareholder successful 4 of the 5 Bitcoin mining companies.” Accompanying this assertion was a screenshot showcasing Blackrock’s investments successful these mining entities. This station resonated with 2,774 users and was shared 726 times.

In a lighter vein, Crypto Rover quipped successful different post:

Blackrock CEO: ‘Bitcoin volition revolutionize finance’ — And you inactive deliberation they are not buying!

Elsewhere, a video spanning implicit 13 minutes delved into wherefore Blackrock mightiness intensify its absorption connected bitcoin (BTC). The video’s creator emphasized Blackrock’s impeccable way grounds with ETF approvals and posited that the firm, on with its CEO, recognizes BTC’s inherent scarcity. Drawing a parallel, the video likened this to Blackrock’s foray into single-family homes, but with BTC promising adjacent loftier returns.

Such narratives and conjectures person gained momentum successful caller weeks. However, factual grounds of Blackrock’s monolithic BTC acquisitions remains non-existent. Countless societal media posts inactive echo this sentiment, with influencers urging the assemblage to safeguard their BTC from imaginable Blackrock buyouts.

“Blackrock is buying bitcoin,” declared Mr. Crypto connected August 25. “Yet the mean idiosyncratic has already forgotten bitcoin existed. The eventual awesome to buy,” helium opined. But until tangible impervious emerges of Blackrock’s BTC investments for its spot bitcoin ETF, these ‘tall tales’ stay conscionable that – comical, yet unsubstantiated stories.

What bash you deliberation astir the theories and stories littered each implicit the societal media level X and forums similar Reddit? Do you deliberation there’s immoderate information to these tales? Share your thoughts and opinions astir this taxable successful the comments conception below.