An X (formerly Twitter) user claimed that the world’s leading fund manager, BlackRock, is trying to fork the Bitcoin network and ultimately control the network.
BlackRock is the world’s leading fund manager. In 2023, BlackRock CEO Larry Fink showed his interest in Bitcoin and applied for the Bitcoin Spot ETF ($IBIT) product and finally obtained regulatory approval from the United States Securities and Exchange Commission body ( SEC), along with dozens of other similar requests. BlackRock currently manages nearly $54 billion in net assets for its Bitcoin Spot ETF (IBIT).
On January 5, 2024, a Crypto X user claimed that BlackRock wants to control the Bitcoin blockchain network through a network fork. According to this user, BlackRock will move Bitcoin to the desired forked network.
This user provided a screenshot of BlackRock’s filing with the SEC body and attempted to support his theory, but many people ignored this information.
Another Crypto
Some Bitcoin true believers said that BlackRock will never do this and if they do, no one will buy their forked coin.
Some people tried to connect this rumor with a past statement conveyed by BlackRock through a video clip in which they said “There is no guarantee that the 21 million Bitcoin supply limit will not change.”
This video was also shared by Michael Saylor, president of business intelligence firm Microstrategy, which is listed on Nasdaq and holds billions of dollars in Bitcoin.
Bitcoin price action
The current trading price of Bitcoin is $98,950 and this price level is 5.5% higher in the last 7 days.
Also Read: Trump Announces “A Powerful New Bill” to Make America Great Again! Does Bitcoin exist?
