Why BlackRock Chose Texas for a New Stock Market

Our new  99Bitcoins documentary details why BlackRock is building a new Wall St. in Texas; say hello to Y’all St.

The greatest trick the Devil ever played was convincing the world that he didn’t exist. Enter BlackRock — the company that owns you , but you don’t even know it.

BlackRock, Fidelity, Vanguard, and State Street are the four horsemen of the global economy. They own the world. They own all of us. Along with Vanguard and the third-largest global owner, State Street, the combined ownership of these asset managers encompasses nearly 90% of the S&P 500

You might not know that BlackRock is using that power to create its own Wall Street. Here’s what you need to know.

Whoever Said Texas is Dumb?

This new Texas stock exchange (what they’re calling TXSE) has already raised around $120 million in capital from a group of over two dozen investors. It is being spearheaded by two Billionaires, Larry Fink of BlackRock and Citadel Securities Ken Griffin.

Does the name Citadel ring any bells? They’re the same ones as Melvin Capital, who fought against traders during the GameStop saga.

The Texas Stock Exchange (TXSE) is expected to launch in 2026.

It will have far less restrictions and be cheaper than the NYSE and Nasdaq.

TXSE will make it easier for startups go public and get liquidity unlocking a golden age of innovation. pic.twitter.com/U44eAJvvzx

— Aidan Gold (@MrGoldBro) July 18, 2024

It’s not just BlackRock who’s getting in on the action. The Wall St. Journal reported that Goldman Sachs is building a $500 million tower in Dallas for more than 5,000 bankers and investors, making it the financial firm’s second-largest office. Meanwhile, Wells Fargo’s newest tower will open in Dallas next year.

And a bit farther away, a fourth office building is under construction for Charles Schwab, which moved its headquarters from California to Dallas five years ago.

This is turning into a wrestling mud fight …. TEXAS STYLE!

BlackRock: Why Texas is The Future For Bitcoin and Tech

Today, places like JPMorgan have more employees in Texas than New York, including over 12,000 in the Dallas suburb of Plano. Texas has also grown to be the 8th largest economy in the world.

What has killed places like California and NYC is that both have become a bad deal. 

California has the highest tax rate of any other state. Locals are robbed at the gas pump at the grocery store by their kids who are addicted to fentanyl — and homelessness is an epidemic. Additionally, rent prices in Manhattan and Brooklyn have tripled since 2000. 

In that same WSJ article, a Goldman Sachs partner, Aasem Khali, said, “Dallasites want you to love Texas. People here don’t view success as a zero-sum game.”

Texas also has several other intangibles, including its central location with a massive airport, offering quick, nonstop flights to nearly any major city. Executives also appreciate the state’s low-tax, low-regulation approach to business. 

Those supporting the Texas exchange have also vowed to infuse their new exchange with that southern charm, aiming to outshine the stiff suits of NYSE and Nasdaq with a more CEO-friendly vibe.

So, will the TXSE outperform Wall St?

Watch the Full Video Here to Find Out

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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.