“Blackrock is focusing on ‘Ripple’ instead of Bitcoin” Spreading false rumors...community reaction was cold

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Last June, BlackRock started a trend of major asset managers applying for Bitcoin (BTC) spot exchange-traded funds (ETFs) in the United States. BlackRock, which suggested that it is optimistic about the future of Bitcoin with the launch of the Bitcoin spot ETF, has recently spread rumors that it will focus on Ripple (XRP) instead of Bitcoin.

The article written about BlackRock focusing on Ripple was confirmed to be a false rumor that had been written and reviewed using artificial intelligence (AI).

However, Bitcoin.com, a cryptocurrency media outlet, noted that the cryptocurrency community continued to react negatively to the rumor that BlackRock was paying attention to Ripple.

As a representative example, you can pay attention to the X (formerly Twitter) post by cryptocurrency analyst Budhil Vyas.

“Fake news alert: BlackRock is not switching from Bitcoin to Ripple,” Villas said. “Don’t be fooled by rumors that BlackRock, the world’s largest asset management company, is dumping Bitcoin and investing in Ripple-based digital assets,” he tweeted.

Even after the claim that BlackRock was giving up Bitcoin and turning to Ripple was confirmed to be false, some netizens continued to emphasize the relationship between Blackrock and Ripple. In particular, it focused on the fact that Robert Mitchnick, president of BlackRock Digital Assets, was the former head of strategy and product marketing at Ripple Labs.

Meanwhile, several financial institutions, including BlackRock, are waiting for the U.S. Securities and Exchange Commission (SEC) to announce approval after applying for a Bitcoin spot ETF. The SEC has already postponed the announcement of approval once, but some analysts have claimed that the SEC is likely to simultaneously approve ETF applications from multiple institutions by mid-March next year.

Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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