So, rumor has it BlackRock might be plotting to fork Bitcoin. Yep, you heard me right. Fork it. Like a steak that’s been sitting there a little too long, they’re eyeing it with their shiny utensils.
“Pfft, nah,” you say? Well, their SEC filings beg to differ.
If you’ve got even a single satoshi to your name, you’ll wanna read this. Buckle up. 👇
Imagine this wild ride:
1️⃣ BlackRock’s shiny new Bitcoin ETF? It starts raking in cash like it’s a Black Friday sale.
2️⃣ Then, out of nowhere, they whisper, “Hey, what if we make a new Bitcoin? You know, one that hugs trees and runs on good vibes—Proof of Stake, anyone?”
3️⃣ Cue Twitter. A tiny but VERY loud minority freaks out, spamming 🚨 and 🚫 emojis everywhere.
4️⃣ But does BlackRock care? Nope. They get the government to nod along, slap a sticker on this thing, and call it “Bitcoin”. (Real original, guys.)
5️⃣ Fast forward a few months—Twitter warriors have sore thumbs, and the world just kinda shrugs and moves on.
Sounds like a dystopian crypto soap opera, huh?
Well, here’s the kicker: BlackRock’s SEC filings? They drop some spicy hints this could actually happen. Here’s the proof:
Yeah, I wish this was a bad meme. It’s not.
If you’re brave, check out the SEC prospectus yourself. I did the homework so you don’t have to, but hey, page 22 is where the drama’s brewing
Now, let’s break it down:
At first glance, all this legal mumbo jumbo seems harmless. Just a “disclosure,” right? You know, in case Bitcoin decides to split into two like it’s having a midlife crisis.
But here’s where it gets sketchy:
👉 The fork BlackRock backs? Totally up to their “Sponsor.”
Yeah, that’s lawyer-speak for “We’ll do whatever suits us, thanks.”
👉 No rules. No criteria. Just vibes. And maybe tyranny.
Oh, and this little nugget:
Here’s why this reeks:
BlackRock is a for-profit machine. They’ve got shareholders and ETFs to fatten up. Picking a fork that’s less valuable? That’s about as likely as a cat deciding to take a bath.
So why would they back some eco-friendly, kumbaya Bitcoin fork? Easy. They know the real Bitcoin community won’t go for it. They’re probably prepping for the chaos of a lower-priced fork anyway.
Still think this is just “reasonable disclosure”?
Let me remind you: BlackRock is the same company that said, “We’re here to change your behavior.”
So, does this mean Bitcoin’s doomed?
Nah, not even close. History says otherwise. Every single centralized Bitcoin fork has crashed and burned.
Sure, if BlackRock pulls this stunt, their ETF might ride high for a while. Passive money loves shiny things. But eventually? Markets chase returns, not corporate puppets. The real Bitcoin always wins.
BUT—and it’s a big but—this would send the market into a full-on tailspin. A bear market like you’ve never seen. That’s why you need to be aware of this potential fork fiasco.
Spread the word. Like, comment, and share this post on INLEO. The more people know, the harder it’ll be for BlackRock to pull a fast one.
Because, at the end of the day, an educated investor is a dangerous investor.
So what do you think? Will BlackRock actually try to fork Bitcoin? Or is this all just another episode of corporate shenanigans?
Posted Using InLeo Alpha
How to not lose? Keep both - all forked coins. Unless its STEEM forking into HIVE...
Thanks for investing your time into writing this post, @anomadsoul. It falls in line with other news over the last couple of years. That Blackrock and its allies are at least manipulating BTC (and ETH?) pricing is not in question IMHO.
This bull cycle has already been significantly different from those of the past. To what end?
Well, at least the publicly available facts, like what you have captured for us, opens the door to a lot of conjecture. A lot on "conspiracy theory" opportunities ... Intentional? Who knows, in our time, how you can get to the truth ...
At least we are being kept informed, as much as possible. Thanks again! 🫡
Bitcoin is definitely getting hijacked to a degree. With what intention, I honestly don't know but it's more about keeping the power where it belongs (not in the hands of the people) rather than the economic incentive
We've seen blackrock and vanguard take massive PnL hits in the past in order to push agendas or keep people in line
Yep. Particularly if any progress is made in "bringing to life" the idea of a "Bitcoin Reserve," i.e. the digital / virtual version of Fort Knox.
BTC is, afterall, well known as being referred to as "digital gold."
I've not looked into this, but they have to cover potential issues to avoid getting sued. Would anyone trust a corporate Bitcoin? I've got no stake in it anyway.
Guau good news, hey welcome back
If this could come we have the great opportunity to buy BTC with low prices again.
Cover your ass is not the same thing as malicious intent.
The mandate is to hold bitcoin. They attempt to hold bitcoin. They are not allowed by the mandate to own anything else. In the event of a fork, they will try to pick the winning coin (to stick with the mandate) but there is no guarantee they will be correct in which coin they choose.
If there were an ETF before the fork wars, and it did not have this disclosure, they would be required to hold BTC, BCH, BSV, BSABC etc. Think it was bad? It would have been so much worse with a multi-billion dollar ETF required to hold them all in proportion (and keep buying the losers to keep up with capital inflows) instead of picking a winner and dumping the rest.
So they have to pick a winner. But if they get it wrong, the company would be on the hook for billions of dollars in liability and failure to disclose the risk of getting it wrong. Think I'm joking? There is an active lawsuit against the second most valuable company in the world because they failed to accurately disclose their overexposure to crypto mining (the same business decision that set them up to be the big AI chip winner and potentially become the most valuable company in the world).
Thank you for providing your valuable perspective on this, @josephsavage. You have a much better experience base from which to "weigh in" on this topic than most.
That said, I would appreciate your "straight up" assessment of at least the potential for ... "malicious intent." As stated, one would assume you believe there is ... "Nothing to see here kids. Move along ..." Blackrock is just "doing their job" and it is as simple as that?
Blackrock is a huge firm made of lots of individuals. The guys at the top don't care about Bitcoin, it's just another profitable ETF. The guys running the fund care about not messing it up- which is about key security, and proper protocols for share issuance and redemption.
If they somehow did push for a forkcoin and it destroyed the value of the ETF for Blackrock, they would be unemployable anywhere. (In investment management because they broke ranks and actively changed the composition of what should have been a passive fund, and in crypto space because they architected a destructive forkcoin.) If they somehow pushed for a forkcoin and it created value for Blackrock (somehow? through greening the chain? generating forkcoins that they could sell off profitably?) they would personally capture none of it (because compensation packages for administering a passive ETF do not included bonuses based on the performance of the underlying).
TLDR- no individual at Blackrock would benefit enough from pushing a forkcoin to compensate for the career risk of pushing a forkcoin and having it blow up in their face.
Very good! Thank you for this additional insight! 🫡👋
Good to see you back man! And thanks for your insights.
They could be just covering their ass but only time will tell
Yeah they are covering their ass ofc, I'm just doomposting because its been a while since I posted something funny lol
Yeah imagine forcing Blackrock to hold all previous forks cos they didn't think of this posibility
Man I missed your insights, been a while!
Already forked a bitcoin cash, core, sv, gold, diamond
Forking BTC? Is that really possible? Just in case, it will be a BTC only in name?
I think we are still too early in the crypto bull. If such a fork is made, I am really curious to see if it is capable of calling out a giant bear.
And the ticker is: $FUCKROCKBTCFORKCOINTHINGY
I was just looking through all the premium users and was wondering where you have been. No threads for a month. How do you cope?
Hope you are doing good
Unlikely, but it would be a nice gift for current bitcoin holders :)
Yeah I agree, but its fun to think of weird posibilities lol
Wen new chess season? I might be able to join this time around!
It will start on Jan, 24 or 31!
LFG!