Good morning! We have listed the latest news for you. Start the day with a bitcoin breakfast.
The great BlackRock has managed to collect 1 percent of all bitcoin that will ever come into circulation in 10 weeks. The performances of the past three weeks have been particularly impressive. For example, BlackRock withdrew more than 30,000 bitcoin from the market in each of the last three weeks.
An important detail, however, is that BlackRock is not the one who actually owns the bitcoin. BlackRock, of course, buys this bitcoin for its customers, who buy shares of the ETF. So it is not the case that BlackRock is now building up great economic power within the bitcoin ecosystem.
On the other hand, it’s almost terrifying how quickly BlackRock managed to buy 1 percent of all bitcoin. How much bitcoin would they have after one year? And how much bitcoin after five years?
These are questions that are extremely difficult to answer, but if they continue at this pace, the percentages must be incredible. On the other hand, they obviously can’t buy that much bitcoin without driving up the price.
Bitcoin is hot air. This is what American financial expert Dave Ramsey says in his own radio show. “I’m with Warren (Buffett) on this. Bitcoin is still hot air,” despite the cryptocurrency’s recent price increases and rising market cap.
In the US, Ramsey is known as a personal finance author and radio host. He recently expressed his skepticism about bitcoin during a broadcast of The Dave Ramsey Show. A caller, Jason from Connecticut, asks whether Bitcoin, with its current market cap of at least $1 trillion, is equivalent to holdings in investment portfolios, to which Ramsey says, “But it’s still hot air.”
Crypto exchange Binance has launched a rewards program where people can earn between $100,000 and $5 million by providing information about possible insider trading or corruption within the platform. This initiative comes amid controversy surrounding the recent purchase of 314 million Book of Meme (BOME) tokens by a crypto whale just before it was listed on Binance.
The Solana-based memecoin BOME was listed by Binance on March 16 and was available for trading against Bitcoin, Tether, First Digital USD and the Turkish lira. Prior to this listing, an individual purchased the tokens for an average price of $0.0074 through Raydium, a (nominally) decentralized exchange. That move attracted attention after the price rose to $0.026, increasing the value of the tokens to around $8 million.
Source: https://bitcoinmagazine.nl/nieuws/blackrock-1-procent-van-btc-maar-het-is-gebakken-lucht
