RE: Institutional Adoption Has Arrived - Vanguard Owns $560 Million in Bitcoin Mining Stocks
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What happens when BlackRock, Vanguard, and State Street own a majority interest in >50% of miners?
Thanks!
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I think it would take quite a lot more than this for them to own that many miners on a global scale
Remember: they can't invest in many of the foreign entities that mine BTC. This creates a bit of a safeguard
In the doomsday event that they own 51% of the network, the network can always be forked. Look at Hive - thriving better than ever today compared to Steem days
I don't think it will ever come to that, but it's nice to have that escape hatch if it ever does
Are you referring to state actors, or privately owned miners? Those may not be available. OTOH, everything is for sale for a price.
It's a common tactic they use. When they control the boards of the companies they own, they gain a significant degree of control of their investments, increasing their prudential security.
At least forking is potential, which isn't the case in many industries.