Vlad Costea, host of the Bitcoin Takeover Podcast, warns of scenarios where an institution like BlackRock could fork Bitcoin and use the current ticker BTC to adjust takeovers and create legitimacy around it.
Is it possible to acquire Bitcoin BlackRock-led? Vlad Costea believes
Despite the increase in adoption achieved by cryptocurrencies as mainstream visibility and larger organizations integrate, not all Bitcoin’s institutional versions are satisfied. Bitcoin Takeover Podcast host Vlad Costea believes a giant like BlackRock may be preparing to acquire Bitcoin.
Costea recently warned about this hypothetical scenario on social media, ratings it could start with a capture of the current Bitcoin ticker (i.e. BTC or XBT). He explained that some of the consensus software doesn’t force current tickers, and that BlackRock could use it to convince investors of the currency’s legitimacy.
He emphasized:
This can play a major role in convincing investors that they must purchase BTC (historically, original Bitcoin) and leave the imitations.
To support his claim, Costair recalls what happened in the split of Ethereum in 2016. There, new currency adopted known ETH tickers and even if the old chain chose not to roll back the blockchain, they still got the tickers.
He further emphasized that BlackRock could support this new fork by paying users to adopt a new chain, sponsoring fake activities and ultimately declaring it as “real Bitcoin.”
Costea stressed that this could happen once Bitcoin is institutionalized and loses its grassroots appeal. “If Bitcoin loses its core value as an unstoppable, unstoppable payment system in order to become more stonk, this kind of brand/ticker hijacking is possible,” he concluded.
Costea is a critic of the “Suitcoiner” movement and calls out that Michael Saylor of Strategy about his controversial position on self-sensuality when he calls parts of the crypto community “delusional cryptanaarchists.”
Read more: Hero Falls: Bitcoin Community Explodes Michael Saylor’s “Divine Cryptocrat” and Self-Doubt Statement