In a recent interview, the prominent crypto podcaster and advocate Peter McCormack voiced his concerns about the potential effects of a BlackRock ETF on Bitcoin, expressing his opinion that “BlackRock is bad for Bitcoin.”
McCormack’s argument revolves around the idea that while such an ETF could positively influence Bitcoin’s price, it might also centralize a significant amount of Bitcoin under a single custodian. He views this centralization as a negative development for the cryptocurrency.
During the interview, McCormack also touched on other crucial topics, including the upcoming Bitcoin halving. He stressed the importance of educating people about Bitcoin and cryptocurrencies to foster broader understanding and adoption.
McCormack further discussed the potential influence of regulators like Elizabeth Warren on the cryptocurrency industry, acknowledging the regulatory landscape’s significance in shaping its future.
In terms of Bitcoin’s future, McCormack expressed his belief that 2024 could be a favorable year for the cryptocurrency. However, he anticipates that 2025 may hold even greater significance within the cryptocurrency’s cycle.