Oddbean new post about login | logout I can't imagine Blackrock NOT attempting to fork #Bitcoin for their own purposes. BUT since they have access to unlimited funds, why would they dump the original #Bitcoin? They could keep both Bitcoin & their new #ETFcoin fork as insurance either way.
That’s always a possibility. But if you want your thing to succeed, you’ll probably put in every bit of effort to kill competition and sell pressure is great for that.
Keeping Bitcoin as collateral & do a marketing push on how much better their own #ETFcoin, or Bitcoin 2.0, would be is a low hanging fruit for them to push through their developed investment network. They could even push their fork as their option in the GBDC arena. Complete control & "safe" custody through BNY Mellon. There are so many options opening up for them it's dizzying really. Potential huge attack vector.