BLACKROCK’S OWN BITCOIN BOSS SAYS THE CASE IS GETTING STRONGER — FUNNY, HIS FUND JUST POCKETED $1.3 BILLION IN A WEEK

BlackRock’s Robbie Mitchnick says the case for bitcoin is getting stronger, and for once the receipts back him up. His fund, IBIT, just ran through 439.5 million shares in a single week — the best positive week the fund has ever had — while pulling in $1.33 billion in new cash and pushing its lifetime haul past $63 billion. Bitcoin itself ripped 23% that week to $78,078. Mitchnick points to something simple: governments can’t stop spending and can’t stop borrowing, so money that used to sit in bonds is running toward things nobody can print more of. Fair enough. But remember who is talking. Mitchnick doesn’t just watch bitcoin, he sells it, wrapped in a stock ticker, and every dollar that flows into IBIT is a fee BlackRock collects whether bitcoin goes to zero or to the moon. That doesn’t make him wrong. The debt is real, the deficit is real, and the printer is real. It just means the world’s largest asset manager finally noticed what twenty-one million coins and a closed supply have known since day one — you can build a trillion-dollar company on top of bitcoin, but you can’t build more bitcoin. Your keys don’t answer to a shareholder letter.