BlackRock Has Entered the Chat

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BlackRock Has Entered the Chat
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Investors may be independent thinkers, but it sure helps if a $10 trillion giant like BlackRock corroborates your views. Analysis by gckaloudis.

.” In theory, miners make money by mining bitcoin and immediately selling it for the local currency in order to pay expenses . In reality, a number of these are well-capitalized firms that don’t need to sell bitcoin continuously.

Some people think bitcoiners are attempting to rebuild the financial system with code, and that along the way these coders are learning why things are the way they are. I partially agree, but I mostly disagree. Bitcoin is different and the system these devs are building is in its own category. This is precisely why it makes total sense that BlackRock is getting involved in bitcoin and other cryptos.

Ancillary businesses around miners include the crypto exchanges that facilitate secondary market trading between crypto assets. Exchanges are important – they are among the mostin the space – in that they give relative value to bitcoin and by extension, the multitudes of alternative crypto assets that were inspired by it.

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