# BlackRock CEO Is Bitcoin's Chief Marketing Officer

> BTC Labeled Digital Gold On National TV.

**Published by:** [Web3 Academy](https://paragraph.com/@web3academy/)
**Published on:** 2023-07-07
**URL:** https://paragraph.com/@web3academy/blackrock-ceo-is-marketing-bitcoin

## Content

GM DOers! 😎Can you hear that? It's the sound of our Bitcoin rocket revving for the moon! 🚀 Larry Fink, the CEO of BlackRock, the financial titan managing a cool $10 Trillion, went on Fox News (2.5 Million viewers in prime time) and labeled Bitcoin as digital gold. 🎉 Web3 Academy 🟣 @web3academy_ The CEO of Blackrock calls #Bitcoin digital cold & labels it a digital asset. Larry Fink is Bitcoin's new CMO! Watcher.Guru @WatcherGuru JUST IN: $9 trillion asset manager BlackRock CEO says crypto is digital gold and "#Bitcoin is an international asset." 1 12:38 • 6 Jul 2023 This is a massive U-turn from his stance 6 years ago when he said Bitcoin was an index for money laundering. 💱 Gabor Gurbacs @gaborgurbacs Larry Fink, BlackRock CEO: 2017: Bitcoin is an index of money laundering. 2023: Bitcoin could revolutionize finance. Files for a Bitcoin ETF. I am old enough to remember… 270 2:29 • 6 Jul 2023 What triggered this 180-degree turn? Is he a newfound fan or does he have an ace up his sleeve? 👀 Web3 Academy 🟣 @web3academy_ You're a great marketer, Larry! You should come work for Web3 Academy! 0 12:39 • 6 Jul 2023 Let us tell you about it.👉 Lens Protocol: The Future of Social MediaDecentralized social media finally allows creators to own their content, data and followers. That’s why we choose to build part of our media platform on Lens Protocol.Find Out MoreBlackRock and Bitcoin: An Intriguing Relationship 👫If you've been hiding under a black rock (pun absolutely intended 😄), here's some quick context.On June 15th, BlackRock put forth a proposal for a Bitcoin ETF. For a deeper dive into BlackRock and ETFs, refer to our previous newsletter here.Then, on June 30th, the SEC flagged the proposal as inadequate, leading to a flurry of angst among investors, particularly those in crypto.The hiccup? It lacked the name Coinbase as the SSA counterpart, aka the entity from which the ETF manager would purchase Bitcoin. A tiny detail that was quickly rectified. Web3 Academy 🟣 @web3academy_ P.S- This has just been fixed. All they needed to change in their filing is name Coinbase as their SSA counter part. Literally added a name to their filing. 0 23:45 • 3 Jul 2023 What caught our eye, however, was the approval of a leveraged Bitcoin ETF by the SEC between these dates. 🤦 Bitcoin Magazine @BitcoinMagazine JUST IN: First leveraged #Bitcoin futures ETF in the US, $BITX is launching today 3,991 18:04 • 27 Jun 2023 It launched on June 27th and it got a lot of traction from the get-go. Whale @WhaleChart First leveraged Bitcoin ETF in U.S. sees $4.2M in trading volume since it went live. $500k first 15 minutes. 1,797 22:55 • 27 Jun 2023 These leveraged ETFs don't represent actual Bitcoin. It’s just a piece of paper that is much riskier than buying and holding actual Bitcoin. Lark Davis @TheCryptoLark The SEC says that the spot Bitcoin ETF filings from the world’s biggest, most powerful, and most influential financial organisations are inadequate. Also the SEC this week approved a leveraged paper BTC futures ETF. Bastards 413 0:03 • 1 Jul 2023 So, why would the SEC greenlight a leveraged ETF before a spot ETF, when its intention is to protect inventors?It's one of the world's mysteries, I guess. 😅 Web3 Academy 🟣 @web3academy_ Inadequate??? How is a #Bitcoin futures ETF adequate then? 52 22:43 • 30 Jun 2023 So, what has caused Larry Fink's shift from viewing Bitcoin as a money laundering index to now endorsing it as digital gold? 🧐The answer is simple - he wants traditional finance (tradfi) investors to embrace Bitcoin and add it to their portfolios through the future BlackRock spot Bitcoin ETF (yes, I’m optimistic it'll get approved!).I will tell you about when we’ll most likely see a spot Bitcoin ETF but first, I wanted to talk about why Larry Fink hyping Bitcoin up is such a big deal for our industry. 🚀Catch Up On Web3 News 🗞️🎧 Listen to today’s Weekly Rollup podcast where we break down the NFT Market Collapse, the launch of Instagram’s Twitter competitor Threads, news coming out of Pudgy Penguins, Moonbirds, and more. Check it out on your favorite podcast platform!YouTube | Spotify | Apple PodcastsLarry Fink Legitimizes Bitcoin ✅Remember when Paul Tudor Jones (net worth of $5.8 Billion and widely considered one of the best traders in history) publicly announced his Bitcoin ownership in 2020? Bitcoin Magazine @BitcoinMagazine Paul Tudor Jones Public FOMO Date: May 11, 2020 Estimated net worth: $5.8 billion "Bitcoin has this enormous continence of really, really smart and sophisticated people who believe in it." 5/6 19 3:15 • 3 Dec 2020 The ripple effects were HUGE! It legitimized Bitcoin for many tradfi investors, making it safer for them to bet their clients' funds on it, without getting fired. Soon after, Microstrategy plunged into Bitcoin with a $500 Million purchase, sparking a bull run. 🐂💰 Bitcoin Magazine @BitcoinMagazine .@michael_saylor Public FOMO Date: August 11, 2020 Estimated net worth: $500 million "Bitcoin is a swarm of cyber hornets serving the goddess of wisdom, feeding on the fire of truth, exponentially growing ever smarter, faster and stronger..." 4/6 12 3:15 • 3 Dec 2020 The influence of these whales was instrumental in driving funds towards Bitcoin and was the inflection point for the start of the bull market in the summer of 2020. And now, with the biggest whale of them all, Larry Fink, vouching for Bitcoin and creating a new financial vehicle for it, we might be on the verge of another massive influx. 😏Of course, we need the Bitcoin spot ETF approval before that happens at a big scale. However, this should serve as a beacon for tradfi investors to re-enter the space, even if it's not necessarily through a spot Bitcoin ETF.But how long do we have to wait until a spot Bitcoin ETF? Keep scrolling to find out 👇🤝 Thanks to our trusted partner, Whag.Web3 users lose billions of dollars every year due to phishing attacks. Luckily, Whag uses verifiable links so you can rest easy, knowing that every link you click on is safe.Just click below to see for yourself. The first 1000 users that sign up and use the code “free1000” get free access FOR LIFE.Sign Up NowCountdown To A Spot Bitcoin ETF ⏰As we previously highlighted in our newsletter here, an ETF approval works in phases. The SEC has a total of 240 days to approve, deny, or delay the decision, following a certain timeline.According to this timeline, Ark Invest's ETF filing is set for a decision by December 2023. Kylereidhead.eth 🟣 @KyleReidhead SEC makes a decision on the ARK/21 shares Bitcoin Spot ETF on August 13 If they delay, their final decision must come by Dec, 2023. There's a GOOD chance we get a Spot Bitcoin ETF in the USA in 2023 Bitcoin Magazine @BitcoinMagazine All of the spot #Bitcoin ETF filings have been resubmitted The ball is back in the SEC’s court 1 0:40 • 6 Jul 2023 This gives us a ray of hope for a Bitcoin ETF this year! However, we're leaning more towards BlackRock or Fidelity’s ETF getting the nod due to their stronger influence. 💪By mid-March (at the latest), the SEC will have to make a decision on 7 ETF filings. Denying all of them seems unlikely. We're betting on at least 1 or 2 getting the green light by March 2024.On top of the ETF likely getting approved, we have the Bitcoin halving coming in April 2024, adding even more to the anticipation.Now… What should YOU do to capitalize on the opportunity? Below, we’re sharing what we think is the way to go from here from an investor’s point of view.The following section is exclusive to our PROs. 💜PRO Advice For Investors 💰Given the current dynamics, buying Bitcoin seems like a great bet. Once the ETF gets approved, we expect a surge of investments flowing into Bitcoin - setting the stage for the next bull run. 🚀But, is Bitcoin the only option? No! Enter ETH. Bitcoin has outperformed ETH in recent months, as you can see below:ETH/BTC denotes the price of Ethereum in Bitcoin. For instance, if Ethereum is trading at $2,000 and Bitcoin is trading at $40,000, the ETH/BTC crypto trading pair will trade at 0.05. The chart above will go up if Ethereum outperforms Bitcoin. But as you can see, in the last 6 months, Bitcoin has outperformed ETH by 16%, which is normal in a bear market. But, historically, Ethereum has outperformed Bitcoin over time, as shown here:Therefore, buying BTC over ETH here is almost like buying the top between the two.Once the Bitcoin ETF gets approved, ETH is next in line. And at some point, ETH will get a spot ETF too.With that said, we know from the last cycles that ETH usually lags behind Bitcoin.That’s because of how the money typically flows in crypto. First, FIAT flows into Bitcoin, then into Ethereum, and then into lower cap (and riskier) crypto assets.We wrote about this extensively in our PRO report last week.We’re at the stage where Bitcoin is performing and ETH is lagging behind. Therefore, this is a perfect opportunity to scoop some $ETH. When its time comes, it will rip like crazy. 🚀With that said, don't be swayed by the Bitcoin-only hype and overlook ETH. It's a promising buy right now. However, you’d ideally be able to accumulate both. But if you had to choose between the two, I’d recommend choosing $ETH right now.That’s all for today, frens! I hope that today’s piece helped you understand what’s going on with this Bitcoin ETF & with why Larry Fink is out there marketing Bitcoin. Keep accumulating, keep DOing & stay away from hype cycles over the weekend! 💪Thanks for reading. And remember, you're strong, you’re powerful, you’re alpha! ❤️See you soon. ✌️Disclaimer: This article is for informational purposes only and not financial advice. Conduct your own research and consult a financial advisor before making investment decisions or taking any action based on the content.

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