Larry Fink, the CEO of BlackRock, has stated that institutional investors are uninterested in cryptocurrency. Fink, as per Davis, has a different motivation for uttering that remark since his comments do not reflect his company’s actions. BlackRock predicted Bitcoin would reach a market worth of $10 trillion around six months back. Bitcoin, according to the firm, may eventually substitute gold.
Moreover, the firm just purchased 12% of all MicroStrategy shares. MicroStrategy owns around 100,000 Bitcoins, so BlackRock effectively purchased 12,000 Bitcoins from them. They intend to frighten individuals into selling their Bitcoins while buying them inexpensively, as per Davis.
“You should not invest in MicroStrategy unless you’d like to gain exposure to Bitcoin…Take a glance at their deeds rather than their comments.”
Fink’s comment also belies the facts of the matter, since Fidelity Digital Asset recently announced intentions to grow employees by 70% in response to increased institutional Bitcoin demand. Scott Minerd of Guggenheim recently forecasted that Bitcoin will fall below $10,000 in the days after his $15,000 estimate.
Davis, on the other hand, says that he, besides Fink, intends to fiddle with investors’ sentiments. In February, Guggenheim projected that Bitcoin would reach $600,000 in value, which is about in line with BlackRock’s estimate that the market valuation would equal that of gold.
“At the peak, they are extremely bullish, and at the low, they are extremely pessimistic.”
Guggenheim, similar to BlackRock, is frightening investors into selling their Bitcoins while secretly buying the downturn. Goldman Sachs has been arguing for a long time that Bitcoin is not really a feasible currency or asset worth investing.
Their internal document, on the other hand, revealed that they are establishing a new crypto trading division. According to another source, Goldman Sachs is expanding Bitcoin trading as part of a new relationship with Mike Novogratz’s Galaxy Digital.
“It’s like someone saying, ‘I love you, I love you,’ but then beating you up every time.”
Bitcoin is expected to fall to $25,000, according to JPMorgan. Davis stated that this is the most accurate forecast, but they expect people to sell their investments. When Bitcoin was strong, the same organization projected it would touch $146,000 in 2021. Clients’ 1% exposure to Bitcoin as a hedge was also supported by the firm. All of the world’s top market manipulators, as per Davis, are negative on Bitcoin.
“These are the world’s most ruthless financial criminals.”