A Mysterious Claim About Why Bitcoin Isn’t Rising: Is There Any Truth To It?

Not a day goes by without a new claim being made by the community in the cryptocurrency market. Now, users have put forward a claim that the price of Bitcoin (BTC) is not increasing despite everything being ideal.

According to the claim spread especially on X, cryptocurrency exchange Coinbase does not provide the Bitcoins that the world's largest asset manager BlackRock wants to buy for its ETF, but instead gives a “BTC right” to BlackRock via the IOU (I Owe You) method to provide the BTCs later. This suppresses the BTC price since the actual purchase does not take place.

The logic behind this accusation is that if BlackRock were to buy large amounts of Bitcoin through debt instead of real Bitcoin, it would reduce demand pressure on the market. This would prevent the price from rising as much as it would if real Bitcoin were bought in large quantities and withdrawn from the market. Essentially, the rumor points to market manipulation, where prices are being kept artificially low by not moving or removing real Bitcoin from circulation.

However, the claims in question have not been confirmed. The reason for the suppression of the BTC price is the current known danger of a US economic recession.

*This is not investment advice.

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