Vlad Costea, host of the Bitcoin Takeover podcast, has warned of a potential project whereby institutions take care of Blackrock might per chance orchestrate a takeover by forking bitcoin and using its present ticker, BTC, to create legitimacy around it.
Is a Blackrock-Led Takeover of Bitcoin That you just might imagine? Vlad Costea Believes So
No longer all bitcoiners are blissful with the institutional version of bitcoin, despite the mainstream visibility and elevated adoption that the cryptocurrency has completed as mammoth organizations integrate it. Vlad Costea, host of the Bitcoin Takeover podcast, believes that behemoths take care of Blackrock might per chance be making attractive a takeover of bitcoin.
Costea currently warned about this hypothetical project on social media, assessing that it might per chance start with the capture of the present bitcoin ticker (namely BTC, or XBT). He defined that any allotment of consensus tool would now not implement the present ticker, and that Blackrock might per chance furthermore utilize it in a fork to persuade traders of the currency’s legitimacy.
He careworn out:
This might per chance per chance furthermore merely play a predominant role in convincing traders that they need to aquire BTC (traditionally, the fresh Bitcoin) and possess away from knockoffs.
To aid his claims, Costea reminisces about what took plot in 2016 with the Ethereum split, where the newer currency adopted the known ETH ticker, whereas the older chain obtained the ETC ticker, even when it opted to now not roll benefit the blockchain.
He further careworn out that Blackrock might per chance furthermore aid this unique fork by paying customers to undertake its unique chain, sponsoring faux divulge, and at final declaring that it is the “exact bitcoin.”
Costea highlighted that this might per chance per chance happen as bitcoin gets institutionalized and loses its grassroots charm. “If Bitcoin loses its traditional value as a permissionless and unstoppable cost machine in discuss in confidence to turn out to be great extra of a stonk, this extra or less ticket/ticker hijacking becomes conceivable,” he concluded.
Costea has been a critic of the “suitcoiner” motion, calling out Design’s Michael Saylor for his controversial positions on self-custody when he referred to fragment of the crypto neighborhood as “paranoid crypto anarchists.”
Be taught extra: A Hero Falls: Bitcoin Neighborhood Blasts Michael Saylor’s ‘Paranoid Crypto-Anarchists’ and Self-Custody Remarks
