BlackRock recently released an educational report <a target="_blank" href="https://x.com/BitcoinMagazine/status/1869125598549061661″>video explaining bitcoin, which I thought was cool; It's surprising to see bitcoin being talked about on such a massive platform. But of course bitcoin <a target="_blank" href="https://x.com/JaromirTesar/status/1869465963722334239″>meltdown about a specific line from the video: “There is no guarantee that the 21 million bitcoin supply cap will not change.”
HealthRnager by Natural News <a target="_blank" href="https://x.com/HealthRanger/status/1869789452769599812″>reclaimed“bitcoin has become too centralized and now the wrong people largely control its algorithms. They TELL you in advance what they plan to do.”
Now, let me be clear: this is total nonsense. The controversy is overrated and the idea that BlackRock would (or even could) change the supply of bitcoin is ridiculous. The statement in his video is technically true, but it is just a legal disclaimer. This does not mean that BlackRock is conspiring to inflate the supply of bitcoin. And even if they were, they don't have the power to achieve it.
The 21 million bitcoin limit is essential; is not subject to debate. The entire bitcoin ecosystem (miners, developers, and nodes) operates according to this fundamental principle. Without it, bitcoin would not be bitcoin. And although BlackRock is a financial giant and holds more than 500,000 bitcoin for its ETF, its influence over bitcoin is practically non-existent.
bitcoin is a proof-of-work (PoW) system, not a proof-of-stake (PoS) system. It doesn't matter how much bitcoin BlackRock owns; the economic nodes have the real power.
Let's play devil's advocate for a second. Let's say BlackRock tries to propose a protocol change to increase the supply of bitcoin. What happens? The vast network of nodes would simply reject it. The history of bitcoin proves this. Remember Roger Ver and the bitcoin Cash fork? He had significant influence and holdings, but his version of bitcoin became irrelevant because most economic players did not follow him.
If bitcoin could be controlled by a single entity like BlackRock, it would have failed a long time ago. The US government, with its endless money printer, could easily acquire 10% of the supply if that were all it took to control bitcoin. But that's not how bitcoin works. Its decentralized nature ensures that no entity, no matter how powerful, can dictate its terms.
So, stop worrying about BlackRock “flipping” bitcoin. Its influence has strict limits. Even if they tried to pressure the developers to change the protocol, the nodes would reject it. bitcoin's decentralization is its greatest strength, and no one (not BlackRock, not Michael Saylor) can change that.
This article is a Carry. The opinions expressed are entirely those of the author and do not necessarily reflect those of btc Inc or bitcoin Magazine.
