Is it actually bad for Bitcoin that entities like MicroStrategy are accumulating so much Bitcoin?
1 min read
Microstrategy is just one company and they hold 140 thousand Bitcoins. Considering there is 19.4 million Bitcoins out there and estimations are that more than 4 millions has already been lost forever, that would mean that we right now have about 15 million Bitcoin that is possible to be owned. That means Microstrategy themselves owns about 0.9% of all Bitcoin available, and Saylor said he plans to accumulate more
What if other entities/corporations started doing similar, and just accumulated for themselves. How can this be good for Bitcoin and its overall decentralization if one day let’s say a third of it is owned just by like dozens of entities?
A lot of Bitcoin community actually supports Michael Saylor and seem kind of excited when they hear news that Microstrategy bought another batch because it pumps price short term I guess, but aren’t long term effects of this possibly quite bad?
submitted by /u/mbdtf95
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