MONEY FACT: 219 million people on planet Earth own Bitcoin. With 8 Billion humans on planet Earth, that is just 2.74% of the human population.
That means it’s more than likely that you’re not an owner of Bitcoin. And Blackrock’s Larry Fink wants it to stay that way.
But before I get to Blackrock we need to talk about money. In fact, it was J.P. Morgan, the famed industrial age American financier and investment banker who said during his 1912 testimonial before the US Congress;
“Gold is money and everything else is credit”
J.P. Morgan in 1902: John Pierpont Morgan (April 17, 1837 – March 31, 1913) was an American financier and investment banker who dominated corporate finance on Wall Street throughout the Gilded Age and Progressive Era. As the head of the banking firm that ultimately became known as J.P. Morgan and Co., he was a driving personal force behind the wave of industrial consolidations in the United States at the turn of the twentieth century.
And during his time, J.P. Morgan was right.
But Gold as money was diminished back in the 1970s when U.S. President Nixon took his leading country off the “Gold Standard” creating this world of fiat money; credit for humanity. Before that, the dollar bill was tied directly to the amount of gold held by the United States. It was a different world back then! Gold was money!
U.S. President Nixon poses Sunday night Aug. 15, 1971, in his White House office after delivering a nationwide television address loaded with economic news including a decision to delink the dollar from gold. It remade the global monetary system in an instant.
But now, it’s becoming more clear that Bitcoin is the technology that is replacing the antiquated “Gold is Money” axiom with;
“Bitcoin is Money and Everything Else is Credit”
And now Blackrock wants to control it as evidenced by their push into creating a Bitcoin ETF that consumers can buy on the markets without the responsibility of holding the actual Bitcoin.
But before we get into that. Let’s have a bit of fun and do a quick think together.
Let’s ask ourselves the following…
- How much “money” do we have in our bank?
- Do we control it or is this “money” actually credit that the bank owes us?
- Can we move it around without our bank’s permission?
No, we cannot move it around without the bank being involved. Period! The bank can take it away from us at any time.
For example, if the government orders them to take it, it’s gone! We don’t own or control it. What we have is a promissory note and that’s NOT actual money. It is credit! That cannot happen if you own Bitcoin.
Now after all we know, should we all buy Bitcoin directly and control our own money? Yes, of course we should. I mean that makes cents, right? But that’s not happening.
Instead, as most of you already know, last month, the US approved ETFs for Bitcoin. After 10 years of applications to the SEC, the USA finally got the elite financiers into the game. Specifically, in total, the SEC approved 11 spot Bitcoin ETFs with the leading company being Blackrock.
Most insiders believe it was Blackrock that pushed and controlled the US SEC to give them “permission” to get into the game. They are powerful and have sway.
Who is Blackrock?
BlackRock, Inc. is an American multinational investment company. It is the world’s largest asset manager, with $9.42 trillion in assets as of June 30, 2023. Headquartered in New York City, Blackrock has 70 offices in 30 countries, and clients in 100 countries.
What is an ETF?
An exchange-traded fund is a type of investment fund that is also an exchange-traded product, i.e., it is traded on stock exchanges. ETFs own financial assets such as stocks, bonds, currencies, debts, futures contracts, and/or commodities such as gold bars and now Bitcoin!
The Facts About Bitcoin ETFs and Freedom
Consumers who purchase Bitcoin ETFs on the stock market are NOT owners of Bitcoin. The owners are the ETF companies. They buy the Bitcoin, own it, and store it. They offer to manage it for the buyer of that ETF so they don’t have to take ownership. They charge a fee for the service. It’s a nice service for most of us who are conditioned to allow others to manage our “money”. But they own the Bitcoin NOT the ETF buyer!
So yes it’s easier to buy and sell but it also defeats the basic idea of Bitcoin making it a tool to free us up from complete control of a centralized government that dictates to us.
In other words, buying through ETFs and/or leaving your Bitcoin on exchanges may be easy and lazy but is it the path to true money freedom?
In fact, Bitcoin’s decentralized nature prevents the type of domination that comes with the centralized structures of stablecoins or traditional finance. Each participant can impact the network’s decisions, reducing the risk of arbitrary power, and thus fostering a more republican view of freedom.
But when we offload the responsibility of “ownership” to ETFs, then we defeat ourselves. Thus, in my opinion, by being lazy investors, we empower our Money Lords to rule over us again!
Bitcoin Under The Mattress
Actually “owning” Bitcoin takes some thought and effort. I mean, yes you can buy and leave it on your exchange where you bought it but that is equally as exposed as buying an ETF; meaning that if a hacker or government decided they wanted to confiscate it, your Bitcoin would be gone before you had your morning coffee.
The best, safest way to “own” is to keep the Bitcoin “Under The Mattress”. In other words, treat it like you would cash.
In the case of digital “cash”, you would download your Bitcoin off your exchange and onto your USB DIGITAL WALLET and store that wallet literally under your mattress. Now you control it 100%. This provides the best asset protection from hackers and any other entity who aims to take your Bitcoin.
Buy the Ledger Nano X Crypto Hardware Wallet on Amazon.com and Store Your Bitcoin Under Your Mattress
Within just a few months, BlackRock is NOW one of the biggest owners of Bitcoin in the world. Why? In my opinion, they want to own the money and allow us the right to use it. They are powerful and want to remain powerful in this new 21st-century money space. So that makes cents.
New Game, Same Ole Players
So what’s happening now is the average consumer is buying Bitcoin ETFs which empowers the elites like Blackrock to corner the market. As I write, Blackrock and other ETF companies are spending massively on advertising to get even more average consumers to buy into the game.
Over the last month, Blackrock and others have already bought billions worth of Bitcoin on the exchanges. Yes, the increased demand with finite supply is increasing the value of Bitcoin and that’s good for the actual owners of Bitcoin. But these ETFs are consolidating the power of the “money” into fewer hands instead of spreading it out to the billions of humans who should be controlling their own “money”.
And so it goes…
Now because you’re still reading this and wondering “WTF?” then I strongly suggest you study Bitcoin in depth. Master it and see if you conclude that “Bitcoin is Money and Everything Else is Credit” and if you should buy Bitcoin directly instead of through ETFs.
Charles Bivona Jr., aka Coach JP Money, is a business strategist, financial coach, and founder of CoachJPmoney.com. A lifelong entrepreneur, he launched his first real estate deal at 17 and went debt-free by 1998. Since then, he has built national media brands, advised small businesses, and helped clients grow online using smart strategy, digital tools, and creative grit.
An expat living in Baja, Mexico, Charles also writes and produces music as Johnny Punish and lives off-grid at Hacienda Eco-Domes, a sustainable retreat he built with his wife. Through providing small business services, coaching, writing, and podcasting, he’s on a mission to help others win their future—on their terms.
Read his full bio at PunishStudios.com >>>
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