Welcome to BitBoy Crypto!
My name is Ben.
And crypto is over as we know it.
Is that true?
Well, I tell you guys all the time,
what is the way that the traditional finance, The Great Reset, the WEF, the IMF,
how do they defeat crypto?
They cannot do it from the outside in.
They must do it from the inside out.
Taking control of something like the Bitcoin hashrate
could be a way to centralize Bitcoin.
Now, a lot of people tell you that's not possible.
I will tell you that there's hardly anybody in the world who has enough money out there
in order to control the hashrate of Bitcoin.
Now,
are there--
is there anyone out there?
Potentially.
There might be a few families out there.
There's one company in particular that everyone needs pay attention to.
And this is none other than BlackRock.
And I do want to say from the outset here
that I do think there is an internal coup trying to happen in the world of crypto
from BlackRock and Goldman Sachs.
However, I don't think it will be successful.
And I don't--
the logistics of how much money it would take to actually control 51% of Bitcoin network is astronomical.
However,
however, BlackRock--
there certainly are some entities that could join together.
But, then again, they would also have to have control of the majority of nodes on the network,
and it's very complicated.
It's very unlikely to happen,
but that doesn't mean that they're not going to try to get a bigger stake in Bitcoin
if, for whatever reason, just to own more Bitcoin.
But this all has to do with Bitcoin mining.
And it's something that I think a lot of people are not reading in between the lines here.
Okay?
What story am I talking about?
I'm talking about the agreement today that has occurred between Celsius and Core Scientific.
Core Scientific is a mining company.
It was a public company, or it is a public company.
They run miners,
but, still, you have to buy your own machines to be able to run--
for them to run your miners for you.
They basically run a mining farm, but you front the equipment costs, okay?
So Celsius back in the bull run,
it spent about $400 million or $500 million, I believe, based on what I understand,
on Bitcoin miners.
Now, this is in addition to--
the reorganization plan, not addition to,
but something that you also need to understand is,
is that the reorg plan for Celsius to try to move forward as a company
involves trying to become profitable off their Bitcoin mining operation.
Now, obviously, we know they have a giant insolvency hole.
We know the whole story.
We've gone over it a lot of times.
But this is a big part of their business.
And I've talked to people who actually believe that Celsius through their mining operations
can eventually make people whole potentially and become a viable company again.
Now, the question is, will they ever have trust again?
That's a totally different situation.
And will a judge let them go forward with the reorganization plan?
But I think anyone, even Binance, that would pick up Celsius,
$400 million or $500 million worth of Bitcoin mining equipment,
that is certainly something that seems appealing to a lot of people.
Now, so you've got these players.
You have Celsius that has all this mining equipment.
You have Core Scientific.
That is the mining farm that runs the miners.
They both filed for Chapter 11,
meaning they're both bankrupt and there's massive changes coming to both.
Celsius claims that Core Scientific basically jacked up their electricity costs
that was not in their contract.
Okay?
So they jacked up the electricity costs and now Celsius is having to pay more.
Core Scientific is saying that Celsius is behind on payments and have not been paying them.
So, basically, there's a conflict between the two.
What does this mean?
They've now agreed to a transition period of up to 75 days.
Cels--
the miners have been turned off.
Celsius must go pick up their mining equipment on their own dime from Core Scientific.
Core Scientific says they will be able to free up $2 million worth of revenue
by renting the space out or by helping another company
that can make their payments with mining.
Okay?
This is where it gets very interesting.
Core Scientific also said,
"Or we could do our own mining operation in our facility."
Huh!
Who recently gave--
since we've known they've been in trouble,
who recently gave Core Scientific a $17 million loan?
Okay?
I'm not sure if it was a loan or just an investment, whatever it was.
Who gave them $17 million recently?
BlackRock
You guys see what's coming?
You see what's happening here?
The United States has gone from having about 10% of the hashrate in the world
to 35%, according to numbers I've looked at.
Now,
now, a lot of that is from--
I based that number off of the--
I think it's the BIT USA or Foundry USA, whatever it is.
It's a large mining pool.
So I'm not sure how many of those are actually in America,
but that, since I've looked at it, says 35%.
Of course, big shout-out to my home state of Georgia.
We have 33% of all the Bitcoin mining in America,
which is, you know, CleanSpark is leading the way there.
We did a video on them a while back with their submerged miners.
But the point is,
is now BlackRock has already shown a relationship with Core Scientific.
The word on the street is BlackRock has been planning
on possibly buying or bailing out Core Scientific.
Why? Why? Why? Why?
They want to get in the Bitcoin mining game.
That's what this is all about.
BlackRock coming into Bitcoin mining
Tonight, on tonight's video--
oh, that's not good.
Let me just get that sun fixed there.
On tonight's video,
we're going to be talking about the continued saga
between Gemini and between Barry Silbert
and the role that Circle and Goldman Sachs plays in that.
Well, guess where there's also a lot of overlap.
That's right.
Between BlackRock and Goldman Sachs.
Guys, wake up to what's happening.
There's an internal coup in crypto.
We're watching BlackRock now positioning themselves to become a massive player
in the Bitcoin mining game.
Your Bitcoin people have said in the past, like,
"Oh," you know, like, you know, everything that's going on, like,
"Bitcoin is infallible."
They're, you know.
"Let's go after the altcoins."
That's regulation.
Blah, blah, blah, blah, blah.
Well, now, you've got BlackRock coming into the game.
Does this change your opinion on Bitcoin and Bitcoin mining?
And here's why.
Here's the thing I really want you to take away from this video and to think about.
What is something that BlackRock has actually turned down investments for?
His act--
he's made a gigantic priority in their company.
One of the same things that the World Economic Forum has made a massive priority.
Climate change
Energy sustainability
Solar
The whole--
Green
Electric car
The whole thing, okay?
What is Bitcoin known as to the average person?
Not the person in the space that knows the facts.
Being extremely bad for the environment.
Do you see where this is going?
BlackRock comes into the world of Bitcoin,
becomes a massive player on the Bitcoin mining stage,
and now is able to make decisions
and--
not control.
They're not able to control it.
They will not have majority of the hashrate, okay?
But they're going to have a bigger say in the direction of Bitcoin mining in the future
and how Bitcoin is relative to the environment.
And I can kind of see this in a way where they start picking off other mining companies as well.
And BlackRock is now trying to control the narrative of climate change around Bitcoin,
trying to create new green and sustainable ways to mine it that will benefit their own pockets.
And now they'll have their investors behind it because their investors care about that stuff too.
And really just to become a behemoth in the crypto space.
This is not what we want.
This is why we want people like Chamath Palihapitiya,
why we want people like Kevin O'Leary,
why we want people like Jim Cramer,
why we want people like Gary Gensler,
why we want others that fit this same mold,
why we want them out of crypto.
Just say no.
So watch what happens here with this.
It's going to be very interesting to follow.
Celsius, Core Scientific, BlackRock
It's an evolving situation.
But I want to know your opinions on it.
Drop your comments down below.
I want to be clear.
I'm not saying BlackRock is going to control Bitcoin.
I know the maximalists,
they're going to clip this video and they're going to say stupid crap.
They're not going to control Bitcoin.
I don't think they can do a 51% attack.
If they control a large percentage, it's still not 51%.
The largest decentralized known network, I understand all that.
But BlackRock trying to get a bigger say in Bitcoin mining
and trying to have a bigger holding in Bitcoin,
it is dangerous for the crypto space,
especially with the overlap with the banking world
and Goldman Sachs and the World Economic Forum.
This is how they do it.
They weasel in.
We don't know the full plan yet.
But we know this is probably the start of it.
That's all I got.
Be blessed.
BitBoy out.