BlackRock and Bitcoin: Will Wall Street Take It to an Extreme?

BlackRock and Bitcoin: Will Wall Street Take It to an Extreme?

3 min read

BlackRock and Bitcoin have been together in the center of a lot of financial analyses recently.

In this exclusive interview, Michelle Makori, Lead Anchor and Editor-in-Chief at Kitco News, interviews George Gammon, an investor and renowned authority in macroeconomics. Gammon expresses deep concerns regarding BlackRock’s ambitious endeavours to establish dominance within the Bitcoin ecosystem. He highlights the potential hazards associated with BlackRock’s acquisition of Bitcoin mining assets, amid the SEC approval for their spot Bitcoin ETF. During the conversation, Gammon delves into the Worldcoin crypto project, sounding a cautionary note about the potential dystopian consequences of its implementation. He also shares insights on central bank digital currencies (CBDCs) and offers guidance on navigating financial alternatives beyond the confines of the conventional financial system. Continue reading for an extract of the video and watch it in full here:

BlackRock and Bitcoin: Investments in Bitcoin Miners

Michelle: What’s your take on BlackRock’s significant investment in top Bitcoin miners, their role in the Bitcoin Mining Council, and their CEO Larry Fink’s shift in attitude towards Bitcoin as a hedge against currency devaluation, considering his earlier dismissal of it as a tool for money laundering?

George: He cares about one thing and that’s making money and assets under management. He’s now just focused his attention on Bitcoin… you’ve got this really cool currency that was set up in a way to promote decentralisation and it was a way to de-financialise our economy, and unfortunately when you have guys like Larry Fink trying to take control over it. For me it doesn’t really change the use case for Bitcoin. As far as the financialisation, I don’t really like it but that’s just my two cents.


Impact on Bitcoin

Michelle: It looks like Blackrock is investing heavily into Bitcoin development. What are your thoughts on BlackRock potentially gaining excessive influence over Bitcoin through its ETF approval, especially in light of its involvement in Bitcoin mining and the potential for pushing a hard fork towards proof of stake for environmental reasons?

George: We’re trying to become vertically integrated in the ecosystem and I think we need to look beyond just the ESG. The first thing that comes into my head is Larry Fink’s association with the World Economic Forum which is often seen as advocating for resource conservation and population control. This raises concerns about his influence in the Bitcoin ecosystem, which could threaten values like freedom, liberty, and free-market capitalism.


Chances of Worldcoin Taking Off

Michelle: Do you think Worldcoin may face challenges and not achieve its anticipated success due to concerns raised by France, the UK, and Argentina about the project’s way of collecting data and its impact on privacy and the economy?

George: Absolutely. I want to be very clear there’s a lot of things that we should be concerned with and be paying attention to that are happening in the world right now… at the end of the day we the people have the power to “make all of this go away” whether it’s a central bank digital currency, whether it’s WorldCoin, whether it’s Larry Fink or Bill Gates – all we have to do is stand up and say no.

Watch the video now and be enlightened with George’s rivetting interview with Michelle!


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