In this video, I discuss 3 different versions of a BlackRock 51% attack on Bitcoin that could include:
1) BlackRock purchasing 51% or more of all 21 million coins 2) BlackRock gaining control of 51% or more of all Bitcoin nodes 3) A traditional 51% attack by BlackRock using Bitcoin mining rigs
All financial incentives point towards BlackRock wanting to help Bitcoin and drive up its price, thus driving up the BlackRock Bitcoin ETF's AUM and fee revenue.
I conclude by noting that there is nothing that BlackRock can do to destroy Bitcoin, though a BlackRock ETF for a proof of stake coin like Ethereum, Cardano, or Solana could be disastrous for those protocols.
Fortunately, Bitcoin runs on proof of work, which provides much greater security and assurances against capture or control by a nation-state or other large financial actor.
Not investment advice! Consult a financial advisor.
I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos. My opinion is not for sale. Please do not contact me with any affiliate or advertising deals.
#Bitcoin #BlackRock
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