In the wake of Blackrock, the world’s largest asset manager, filing for a spot bitcoin exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC), Ran Neuner, the host of Crypto Banter, expressed his positive outlook on the matter during an interview with Michelle Makori, lead anchor for Kitco News. Neuner firmly believes that Blackrock has no “malicious intent” and predicts that the price of bitcoin could potentially double next year, considering his conservative estimate.
The crypto community has been actively discussing the growing interest of institutional players in the crypto economy, especially after Blackrock’s filing for a spot bitcoin ETF. While this move has ignited institutional interest and contributed to a surge in crypto prices, some speculations have surfaced, suggesting a “coordinated attack” by the firm. Certain individuals have even speculated that the filing conveniently coincided with the “Chokepoint 2.0” enforcement actions, which targeted influential entities in the crypto industry.
In a recent interview with Michelle Makori, the lead anchor and editor-in-chief for Kitco News, Ran Neuner, the host of Crypto Banter, expressed his confidence that Blackrock’s intentions are not malicious, despite the rumors and criticism circulating on social media. Neuner brushed off concerns about Blackrock potentially controlling the network through a hard fork mentioned in the ETF filing, emphasizing that it’s not a theory he finds worrisome.
Neuner firmly stated to the show host, “Whether or not one party owns all the bitcoin won’t make bitcoin centralized. The only way that can change is if the majority of miners, over 50 percent of the miners around the world, agree that the rules need to change… Regardless of who owns the bitcoin, the mining still remains decentralized.”
Neuner further conveyed his belief that Blackrock’s spot bitcoin ETF, in conjunction with the upcoming halving scheduled for April 20, 2024, will propel the price of bitcoin upward. He expressed his optimism that the price could potentially reach much higher levels, effectively doubling its current value. Neuner clarified that he was taking a conservative stance, stating, “I think [the Blackrock ETF] could be a game changer. If you get a bitcoin spot ETF, you now really open all of this money coming into crypto with an easy way to access this asset.”
While Neuner’s perspective is promising, it’s worth noting that concerns were raised when a spot gold ETF was approved in the U.S. back in 2004, as it faced allegations of price manipulation and suppression. In the interview, Neuner also touched upon U.S. presidential candidates who have shown support for Bitcoin (BTC), including Francis Suarez, Ron DeSantis, Robert F. Kennedy Jr., and Vivek Ramaswamy. Neuner sees this growing endorsement of BTC by candidates as a positive development that brings the topic into the spotlight.
“Most of the candidates that have entered the race have taken a favorable position on bitcoin and crypto,” Neuner explained. “The market is telling you, and the politicians are telling you, that bitcoin is an election issue.”
Frequently Asked Questions (FAQs) about Bitcoin ETF
Q: What is the Blackrock Spot Bitcoin ETF and why is it significant?
A: The Blackrock Spot Bitcoin ETF is a filing made by Blackrock, the largest asset manager globally, for a spot bitcoin exchange-traded fund with the U.S. Securities and Exchange Commission (SEC). This ETF has garnered attention due to its potential impact on the crypto market and institutional interest in cryptocurrencies. It is seen as significant because if approved, it could provide an easy way for investors to access bitcoin, potentially driving up its price.
Q: What is Ran Neuner’s view on the Blackrock Bitcoin ETF filing?
A: Ran Neuner, host of Crypto Banter, expressed optimism about the Blackrock Bitcoin ETF filing. He believes that Blackrock has no malicious intent and dismissed speculations suggesting otherwise. Neuner expects the price of bitcoin to potentially double next year, considering it a conservative estimate. He sees the ETF filing as a potential game changer that could bring in significant investment into the crypto market.
Q: Are there concerns about the Blackrock Bitcoin ETF and its potential impact?
A: Yes, some concerns have been raised in relation to the Blackrock Bitcoin ETF. Similar to the approval of a spot gold ETF in the past, there were complaints of price manipulation and suppression. However, it is important to note that these concerns are speculative, and the impact of the Blackrock Bitcoin ETF is yet to be determined. Additionally, some individuals have speculated about the timing of the filing in relation to enforcement actions targeting the crypto industry, but Ran Neuner dismissed these speculations.
Q: How does Ran Neuner address concerns about centralization and control of the bitcoin network?
A: Ran Neuner addresses concerns about centralization and control by emphasizing that regardless of who owns the bitcoin, the mining process remains decentralized. He explains that for the rules to change and the network to become centralized, a majority agreement among miners globally would be required. Neuner does not find the theory of Blackrock taking control through a hard fork worrisome and believes that bitcoin will remain decentralized despite ownership distribution.
Q: What is the significance of U.S. presidential candidates expressing support for Bitcoin?
A: The increasing number of U.S. presidential candidates endorsing Bitcoin, such as Francis Suarez, Ron DeSantis, Robert F. Kennedy Jr., and Vivek Ramaswamy, is seen as a positive development. Ran Neuner considers this as an indication that bitcoin has become an election issue. It brings the topic of cryptocurrencies into the spotlight and suggests a growing acceptance and recognition of their importance within the political landscape.
More about Bitcoin ETF
- U.S. Securities and Exchange Commission (SEC)
- Crypto Banter
- Kitco News
- Spot Gold ETF