WallStreetBulls (@w_thejazz) has set the internet ablaze with speculation around BlackRock, the world’s largest asset manager. WallStreetBulls pointed out in a post on X that BlackRock and other financial giants might be reevaluating their stance on Bitcoin (BTC) and exploring alternative digital assets like XRP. This speculation was also backed by a Wall Street veteran, Linda Jones.
If this holds, the implications could be monumental for the crypto industry and the broader financial landscape. These might raise questions about the confidence of institutional investors in certain digital assets.
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WallStreetBulls linked to a Forbes article from August which shed some light on BlackRock’s crypto strategy. One of the main points of interest is the rumor making the rounds about the alleged Bitcoin holdings of BlackRock. There have been unconfirmed reports that the firm holds a substantial amount of Bitcoin, estimated to be around 12,000 BTC.
In response to the speculation, Linda Jones, a Wall Street veteran and popular financial expert, said “It has to happen, eventually.”
It has to happen, eventually. https://t.co/QoqRXTN7oa
— Linda P. Jones (@LindaPJones) September 13, 2023
Is a Major Shift Coming?
WallStreetBulls states that he strongly believes BlackRock will sell a substantial amount of their BTC holdings. Furthermore, he points out that there are hints that the U.S. government might also be considering similar actions regarding their cryptocurrency holdings. However, it’s important to note that BlackRock has not officially disclosed the exact details of its Bitcoin holdings or any plans for sales.
Remember that XRP enjoyed a surge in price after the victory over the SEC in July. It was a shot in the arm to the rest of the market, with BTC and ETH enjoying noticeable revitalization. However, the market has since corrected, with XRP dropping to pre-lawsuit verdict price levels.
WallStreetBulls points out that when the fear of missing out (FOMO) sets in with BTC investors, they tend to rush in. The influx causes a surge in price and provides an opportunity for big players like BlackRock to sell off their crypto holdings, capitalizing on the FOMO.
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WallStreetBulls also highlights that these companies are smart enough to invest their profits in other digital assets with tangible utility. In this case, XRP, which he says has proven its worth in real-world applications, could become the next focus.
WallStreetBulls’ post drew the attention of international bestseller, Linda P. Jones (@LindaPJones). As aforementioned, she replied, “It has to happen, eventually.” Another user replied, pointing out that although the source didn’t mention anything specific, XRP is beloved by banks and has a high chance of surviving.
Many, just like Linda, believe it’s only a matter of time before major investors start flocking toward XRP. With this move away from Bitcoin, we might see significant shifts in the market soon.
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