Bitcoin

BlackRock

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<p dir="ltr">MicroStrategy Founder and Chairman Michael Saylor finally commented on a recently published Bitcoin Whitepaper from BlackRock. Saylor’s comment comes after popular figures like Bloomberg’s Senior ETF analyst Eric Balchunas spotlighted the BlackRock Bitcoin whitepaper.</p>
<h2 id="michael-saylor-s-support-for-blackrock-bitcoin-whitepaper">Michael Saylor’s support for BlackRock Bitcoin whitepaper</h2>
<p dir="ltr">Taking to the X platform, Saylor&nbsp;<a href="https://x.com/saylor/status/1836805560877916366" rel="noopener noreferrer nofollow">stated</a>, “For investors, #Bitcoin is a unique diversifier.” Saylor describes the Bitcoin whitepaper as an excellent research piece, articulating Bitcoin’s value and dispelling popular misconceptions.&nbsp;</p>
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 <p lang="en" dir="ltr">For investors, <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> is a unique diversifier. <a href="https://twitter.com/BlackRock?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@BlackRock</a> has published some excellent research on this topic which articulates the value of bitcoin and dispels popular misconceptions. Take a look:<a href="https://t.co/iaxpsXIO13" rel="noopener noreferrer nofollow">https://t.co/iaxpsXIO13</a> <a href="https://t.co/4pKavNfAYT" rel="noopener noreferrer nofollow">pic.twitter.com/4pKavNfAYT</a></p>— Michael Saylor⚡️ (@saylor) <a href="https://twitter.com/saylor/status/1836805560877916366?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">September 19, 2024</a>
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<p dir="ltr">In the X post, he highlighted the whitepaper and urged his followers to peruse it. Saylor’s comments further demonstrate his commitment to the&nbsp;<a href="https://u.today/bitcoin-btc-on-verge-of-lower-high-reversal-at-63000-whats-happening" rel="noopener noreferrer nofollow">Bitcoin</a> (BTC) ecosystem. A strong Bitcoin proponent, Saylor began investing in the coin in 2020 through his firm, MicroStrategy.</p>
<p dir="ltr">As U.Today earlier&nbsp;<a href="https://u.today/michael-saylors-microstrategy-now-owns-117-of-all-bitcoin-details" rel="noopener noreferrer nofollow">reported</a>, MicroStrategy now holds 1.17% of all Bitcoin. It has steadily increased its Bitcoin holdings, which are larger than most Exchange-Traded Funds (ETFs) on the market.</p>
<h2 id="details-of-blackrock-s-bitcoin-whitepaper">Details of BlackRock's Bitcoin whitepaper</h2>
<p dir="ltr">BlackRock’s Bitcoin whitepaper, “Bitcoin: A Unique Diversifier,” provides an in-depth analysis of Bitcoin’s journey to a $1 trillion market capitalization. The nine-page document notes that investors' appeal for Bitcoin lies in its detachment from traditional risk and return drivers.</p>
<p dir="ltr">Additionally, it shows that Bitcoin surpassed all major asset classes in seven of the last ten years, generating an annualized return of almost 100%. According to BlackRock, this performance was achieved despite Bitcoin being the worst performer in three of those years. Notably, Bitcoin experienced four drawdowns exceeding 50%.</p>
<p dir="ltr">The whitepaper further highlights that geopolitical, fiscal and monetary stability concerns will likely influence Bitcoin’s adoption trajectory. Still, the whitepaper concluded that Bitcoin remains a high-risk asset subject to volatility and regulatory challenges.</p>
<p dir="ltr">As of this writing, BTC is trading at $63,444, demonstrating a 1.08% surge in the past day. However, the trading volume shows reduced investor sentiment, with a 24-hour decline of 12.15%.</p>

Michael Saylor Breaks Silence on BlackRock Bitcoin Whitepaper

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