| Cryptocurrency | Price (USDT) |
|---|---|
| BTC | $106458.4500000000 |
| ETH | $2454.2760000000 |
| BNB | $652.9505700000 |
| XRP | $2.1973330000 |
| ADA | $0.5618404000 |
| SOL | $148.7898000000 |
| DOGE | $N/A |
| DOT | $3.3286600000 |
| LTC | $85.5001000000 |
| LINK | $13.1815900000 |
Category: CRYPTO NEWS
The post BlackRock’s new BTC Ad sparks outrage among holders due to supply disclaimer appeared on BitcoinEthereumNews.com. BlackRock, the most dominant asset manager globally, released an advert promoting Bitcoin. However, the advert has since received a backlash from crypto holders due to a disclaimer that questions cryptocurrency’s fixed supply. The video is displayed on BlackRock’s website under the iShares Bitcoin Trust (IBIT) ETF page. The three-minute clip walks viewers through the evolution of money and the key principles of Bitcoin. One of the critical foundations of Bitcoin is its supply, which is fixed at 21 million Bitcoins. While the video, like any advert, explains the advantages of Bitcoin’s fixed supply, there is a part with a disclaimer cautioning viewers about future changes in the supply cap. “There is no guarantee Bitcoin’s 21 million supply cap will not be changed.” The disclaimer is the bone of contention, with Bitcoin maximalists who feel the 21 million Bitcoin supply is a sacred tenet that makes the crypto’s status as “hard money” taking offense. BlackRock leverages controversy to attract publicity The controversial caption runs for about five seconds and fades away, leaving the narrator elaborating on the importance of fixed supply without touching on the disclaimer. Most observers would have skipped the disclaimer, but Michael Saylor, the founder of MicroStrategy, sharing it on his X account on Tuesday was the game changer. Although the disclaimer appears like a footnote in the video, most crypto enthusiasts are raising concerns. One key player in the crypto space, Anatoly Yakovenko, registered his displeasure: This is the problem with tradFi. They see crypto as an investment into a thing external to them. BlackRock and Saylor need to commit that their full nodes will always guarantee a 21m supply, and they will only call the fork that their full nodes follow Bitcoin. ~Anatoly Yakovenko BlackRock is not making the controversial disclaimer for the time. In June…
2024-12-20T04:29:29+00:00