An X (formerly Twitter) user claimed that the world’s top fund manager, BlackRock, is trying to fork the Bitcoin network & ultimately control the network.
BlackRock is the world’s top fund manager. In 2023, BlackRock CEO Larry Fink showed his interest in Bitcoin & filed for Bitcoin spot ETF product ($IBIT) and finally secured regulatory approval from the United States Securities and Exchange Commission (SEC) body, along with dozens of other similar applications. Currently, BlackRock is managing nearly $54 billion in net assets for its Bitcoin spot ETF ($IBIT).
On 5 Jan 2024, A crypto X user claimed that BlackRock wants to control Bitcoin blockchain network via a fork of the network. According to this user, BlackRock will shift Bitcoin to the desired forked network.
4/ ➮✯ This screenshot isn’t fake, though I wish it was✯ See the official SEC prospectus for yourself✯ The key details are laid out on page 22✯ Here's a full doc, if you want to see the full picture 👇https://t.co/bN7fImPw9D
— Skynet Insights (@NeuralSet) January 5, 2025
This user provided a screenshot of BlackRock’s filing with the SEC body and tried to back his theory, but many people ignored this information.
Another Crypto X user said that the thread on this topic was only created to get engagement in the Crypto community & BlackRock’s statement regarding the Bitcoin fork concept was considered negative.
If you actually read the fine print there’s nothing sketchy going on here. They’re just saying they may have to make a decision and it may be the wrong one. Big deal. That’s true. Yes, they may fork it. But my guess is that a fork doesn’t happen over night without warning. This…
— GenX (@SHARKin3ftH2O) January 6, 2025
Some true Bitcoin believers said that BlackRock will never do this, and if they will, then no one will buy their forked coin.
Some people tried connecting this rumour with a past statement passed by BlackRock through a video clip in which they said “There is no guarantee that the supply cap of 21 million Bitcoins will not change.”This video was also shared by Michael Saylor, chairman of the Nasdaq-listed business intelligence firm Microstrategy, which holds multi-billion dollars in Bitcoin.
BlackRock explains #Bitcoinpic.twitter.com/X2fPl8tL2s
— Michael Saylor⚡️ (@saylor) December 17, 2024
Bitcoin price action
The current trade price of Bitcoin is $98,950 & this price level is 5.5% high over the last 7 days period.
The current trade price of #Bitcoin is $98,950 pic.twitter.com/8qPqpgiWdI
— Bitcoinik (@Bitcoinikdotcom) January 6, 2025
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