LEAKED: Did BlackRock Accidentally CONFESS To Manipulating Bitcoin Price?! | EP 1549

**Nico** (0:02)
You won't believe what Larry Fink might have just admitted on the national news. And at the same time, two multi-trillion dollar economies just made some huge Bitcoin law changes this week. But this story really gets fascinating because when you have a listen to what Larry Fink said, he was asked about the leverage in one of these countries. And as you're watching this, I want you to ask yourself, why did he instantly pivot the question to Bitcoin? So let's watch this. This was on CNBC.
Super interesting stuff. I'm going full tinfoil hat on you guys today. Let's check it out.

**SPEAKER_2** (0:41)
Can I ask you about leverage? Every morning we come in here, we check the cost fee, which was up six, nine percent swings. The South Korean president said the market there, she thinks is quite unstable.
A lot of its leveraged ETFs and two big names.

**SPEAKER_3** (0:58)
Which we don't really do.

**SPEAKER_2** (0:59)
Do you worry about that, though? Is it global risk factor?

**SPEAKER_3** (1:02)
No, I really don't worry about...
There's not that much leverage in this compared to 2008, 2009 Now, maybe the Korean market has that embedded leverage in it. There is no question, as I said in earlier times, and I'll be here, I was always worried about the leverage in Bitcoin and crypto. There was too much leverage players in it. That's why we had the washout, and I think there's more stability at these levels here. But no, we don't see that much implicit leverage. For the scale of the capital markets today, the leverage is not as large. I mean, that doesn't mean there's not pockets.
But no, as I said in my prepared remarks this morning, I'm very bullish on the markets over the next 12 months. I think the technological revolution is going to power better margins for more companies. I mean, think about BlackRock. We've raised our margins increased by 260 base points over the last 12 months. A lot of it is using more and more technology.

**Nico** (2:04)
All right, guys. So for you guys that maybe aren't aware, Cosby is the Korean, it's like the Korean S&P 500 And there was a few interesting news coming out of Korea, South Korea and of course Japan. And as I've been mentioning, and it was actually hit on in that clip, what we're watching right now happened in the Asian markets are super interesting. Though Larry Fink very clearly said he's not worried about the leverage happening in Korea. Obviously they didn't talk about Japan because anyone that knows anything knows that Japan is in fact intertwined with all of the global markets. But anyways, before I get into the news coming out of South Korea and Japan that are Bitcoin related, let's talk about this clip. There's two things that I take from this clip.
One is obviously, he's like, I'm bullish at these prices, which is, you know, I mean, if you know anything in Bitcoin, it's like we're basically at the bottom of the bear market. So yes, good prices. But the interesting part was he was asked a question about leverage in the Korean markets and whether he thought that was going to be a contagion for the rest of the markets. And he's like, no, I'm not really worried about leverage. Like our leverage now in the system isn't as bad as 0.8, when of course there was the great financial crisis. But Barry instantly pivoted the question to Bitcoin and talked about Bitcoin leverage. And what have we been talking about on this show for months at this point, particularly since the 10-10 November crash caused by a quote, Binance glitch here, that basically started the beginning, or rather I wouldn't say started, but it was the, I would say final catalyst to get us into the bear market action we are in right now. It wiped out all of the leverage traders.
And Larry Fink has been saying this for months at this point. He's like, look, I like Bitcoin, but there's too much leverage in the system. And further, too much leverage on offshore exchanges. And what are we seeing happening right now? Well, in the past couple of months, all of the leverage, all the leverage traders in Bitcoin have been completely wiped out. This is why I constantly keep bringing you up, the long and short and what's going on in derivatives, because we're seeing right now that it's not spot Bitcoin that is driving the price of Bitcoin. It is the ETFs. And then of course, it is the leverage in Bitcoin. It's all the leverage traders, which historically, as we all know, the price of Bitcoin is set on the fringes. It's all the leverage traders. The majority of Bitcoin is in self custody, but it's about two, maybe being generous, four million Bitcoin that are on exchanges and being traded because of all of the traders and all of the leverage and people trying to make a quick buck that is actually essentially moving the Bitcoin price. Most of us already are pricing our Bitcoin at what, like infinity dollars per sat or $10 million per Bitcoin. But the leverage traders, the degenerate traders on the exchanges are the ones that are fluctuating the Bitcoin price. And what did Larry Fink just say? He's like, I'm actually feeling very bullish right now because all the leverage got wiped out of the system. And you're like, wait, hold on. I know I'm connecting too many dots here at sometimes on this show, but it almost seemed like he just admitted this. Like, yeah, we've been leverage hunting. We wanted to clear out all the leverage in the system so that we coming now, all the banks coming off Wall Street, they can be the ones that are in control. And it is something I've been saying on this show for a while now.