Bitcoin price manipulation has been a hot topic lately, and a new rumor has surfaced that BlackRock may be behind it. Supposedly, the company is trying to push the price of bitcoin down so that its new spot ETF will be approved by the SEC.
Many people are skeptical of this claim, as it’s difficult to see how BlackRock would be able to manipulate the price of bitcoin. After all, the cryptocurrency is decentralized and not influenced by any one entity. However, some believe that BlackRock may have connections to various exchanges that could allow them to influence the market.
Regardless of whether or not BlackRock is manipulating the price of bitcoin, one thing is for sure: they want to prove a point to their investors. The company has been losing money in its traditional asset management business, and it’s hoping that its new spot ETF will turn things around. If the ETF is approved, BlackRock will be in a better position to compete with other large players in the industry.
At the moment, it’s still unclear whether or not the SEC will approve BlackRock’s ETF. However, if the company is able to manipulate the price of bitcoin, it may have a better chance of getting the go-ahead.