I want someone to joust holes in this.
A very large amount of bitcoin out there is held by a very small amount of whale investors. Obviously, the addresses that are reported in the media such as '2% of bitcoin investors own 90% of bitcoin' is probably an overstatement as exchanges might get misconstrued as being whales.
But still if even a quarter of this pans out to be the case, how is bitcoin meant to be the democratisation of money when it is so unequally divided.
Being a bull on bitcoin becoming the new gold standard seems crazy as it would just shift our current status quo of inequity to another even worse kind.
Bitcoin Charts, page-760
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Add BTC (FOREX) to my watchlist