Redditors Speculate on the Mysterious Connection Between BlackRock, Bitcoin’s Founder Satoshi Nakamoto, and Reddit’s WallStreetBets

This is not investment advice. The author has no position in any of the stocks mentioned. Wccftech.com has a disclosure and ethics policy.

A Reddit post exploring a potentially interesting connection between the investment titan BlackRock, Bitcoin’s founder Satoshi Nakamoto, and the WallStreetBets forum has gone viral over the past few hours. While the post is quite speculative in nature, it does leverage certain coincidences to raise a few pointed questions that merit a thorough inspection.

Reddit user Connect_Corner_5266, a self-professed finance professional, originally published his viral post on the WallStreetBets forum. However, as per his own admission, that post was summarily removed. Thereafter, he chose to reproduce his viral post (read here) on Reddit’s DeepFuckingValue forum while embellishing it with some additional details.

In his original post on the WallStreetBets forum, Connect_Corner_5266 explored how certain key elements in BlackRock’s and Bitcoin’s history overlap. For instance, BlackRock began developing its own bespoke ledger system, dubbed Aladdin, around two decades before Satoshi Nakamoto published his famous Bitcoin whitepaper. Aladdin, as per BlackRock’s own disclosure, is a cross-asset platform that unifies the entire investment management process via a common data language. In 2013, the platform handled assets worth over $13 trillion.

However, the smoking gun in this supposed interplay came in 2009 when BlackRock acquired Barclays’ iShares business, which would propel the investment titan toward the apex of the ETF world in the years to come. Interestingly, Satoshi Nakamoto’s Bitcoin whitepaper emerged in the same year. And now, BlackRock stands to make billions of dollars in fees on its spot Bitcoin ETF, which is expected to launch as soon as this week. Connect_Corner_5266 posits that, given the overlaps here, BlackRock might have played a role in Bitcoin’s whitepaper:

“Blackrock has played the long game since BTC was invented, and now is suspiciously well positioned [to benefit].”

Perhaps, Satoshi Nakamoto himself is a BlackRock employee or associate. Regardless of the possibilities here, these ruminations remain part of educated conjecture. After all, there is no apparent causal link between BlackRock and Bitcoin’s whitepaper.

What’s a little bit more obvious is Connect_Corner_5266’s assertions regarding some form of a symbiotic relationship between Reddit (specifically the WallStreetBets forum) and BlackRock. In 2013, Fidelity Investments and BlackRock formed a “strategic alliance” on ETFs. Fidelity also happened to be the lead investor in Reddit in its most recent funding round back in 2021. There is clearly enough of an interlink here to bolster the symbiosis hypothesis. After all, both of these investment titans possess leverage over Reddit via their advert placements.

As per the Vice publication, BlackRock ended up as the biggest beneficiary of the GameStop saga that was initiated within the WallStreetBets forum, courtesy of its sizable stake in the meme stock. Now, as per first-hand anecdotes, WallStreetBets is apparently tamping down on posts that are critical of BlackRock. For those already wearing a tinfoil hat, the apparent symbiotic relationship here is a foregone conclusion. Even for those with a bit more skeptical bent, these developments merit a deeper investigation.

We’ve contacted BlackRock for their views on this Reddit post and will update this article if a response is received.

Do you think the coincidences identified in the viral Reddit post are convincing enough? What are your views on BlackRock and its role – or lack thereof – in Bitcoin’s rise? Let us know your thoughts in the comments section below.

Share this story

Facebook

Twitter