Key takeaways
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May -set of Bitcoin standard Saifean ammous said that even if a creature owns a large amount of Bitcoin, it does not hurt the protocol
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Hab -amous reiters reiters major companies such as Blackrock and strategy do not have the Bitcoin they hold because it belongs to investors
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Ammous said if these companies abused their position, people would probably pull their money and invest somewhere else.
Michael Saylor’s approach that hypothetically hoarding nearly 48% of the total Bitcoin supply does not lead any risk to the Bitcoin protocol or its price, says the Bitcoin -set standard Saifean Ammous.
“If Michael Saylor ends with 10 million bitcoin, what will he do? He’ll probably use them to buy more bitcoin,” ammous Says During an interview on April 25 with Crypto businessman Anthony Pompliano.
Ammous removes Bitcoin hoards that produce risks
“In the end, I don’t see how it will threaten the protocol in serious sense,” Ammous said.
Ammous said if Saylor managed to accumulate 10 million bitcoin (Btc), he wasn’t likely to “wake up one day and say let’s try and it’s hard fork so we can make another 5 million supply of bitcoin so I have 15.” He said it would reduce the value of his existing 10 million bitcoin.
Many participants in the crypto market have previously raised concerns about bitcoin whales and at what point their holdings can lead to risks such Manipulation of market, centralization, or liquidity issues.
At the time of publication, Saylor’s firm approach holds 538,200 Bitcoin, costing about $ 50.18 billion, According to In the Saylor Tracker. Meanwhile, the Bitcoin ETF ishares area has net assets worth $ 54.48 billion, equivalent to nearly 585,000 Bitcoin, According to in blackrock data.
Together, the two companies hold about 5.3% of the total Bitcoin supply. However, Ammous said it was not a cause of concern.
“It’s not like Michael Saylor or Larry Fink owns all the Bitcoins. They have shareholders who own all the Bitcoins, or ETF holders who own those bitcoins.”
“Until the blackrock and approach hold on to them, they hold them because they are doing their certainty part of their shareholders and the ETF holders in a fun way,” Ammous added.
Related: The Ark invest ups its 2030 Bitcoin Bull Case Prediction for $ 2.4M
Ammous explained that if the blackrock or approach starts to manage their holdings in a way that is harmful to shareholders or ETF holders, or starting to abuse their position, that is when investors will sell and find other ways to get exposure to bitcoin.
On April 24, Cointelegraph reported that twenty -one capital, a new bitcoin treasury company led by the strikers Jack Malers with the support of Tether, Softbank and Cantor Fitzgerald, was looking for to give approach to be the “Superior vehicle for investors looking for capital-efficient bitcoin exposure.”
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This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.
