Key Takeaways (Because Who Reads Entire Articles, Darling?)
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Saifedean Ammous, author of The Bitcoin Standard, assures us that even if one chap owns a monstrous stash of Bitcoin, the protocol won’t break a sweat.
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He clarifies that titans like BlackRock or Strategy merely hold Bitcoin on behalf of the mortals (investors), so no secret overlord here.
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If these corporate custodians turn into tyrants, investors will promptly show them the exit door and take their coins elsewhere. Cheeky, but effective.
Picture this: Michael Saylor, that magnanimous fellow, hypothetically clutching almost half of all Bitcoin in existence. Sounds like a recipe for chaos, does it not? Yet, Ammous thinks it’s about as unsettling as finding a teapot in the sink.
“If Michael Saylor wakes up owning 10 million Bitcoin, what’s the plan? Likely the same as any devoted collector: leverage it to buy even more. Because why not?” mused Ammous during a delightful chat with crypto entrepreneur Anthony Pompliano.
Why the Bitcoin Hoarders Aren’t Plotting World Domination 🤔
“Honestly, threatening the protocol? That’s a stretch,” Ammous declared with the confidence of a man who’s read more Bitcoin whitepapers than the average bedtime story.
He added a dash of common sense: “Imagine Saylor one morning thinking, ‘Let’s conjure up an extra 5 million Bitcoin out of thin air,’ so he can brag about owning 15 million. That move would just hollow out the value of his precious 10 million—hardly clever.”
Of course, the crypto crowd frets about whales—those gargantuan Bitcoin holders—and fears of market shenanigans, centralization, or liquid assets resembling the Sahara Desert in liquidity.
As the numbers dance: Strategy holds a respectable 538,200 Bitcoin, worth over $50 billion—enough to buy a small country or a vast collection of champagne. Meanwhile, BlackRock’s Bitcoin ETF flaunts assets worth around $54.48 billion, adding up to roughly 585,000 Bitcoin.
Together, these two juggernauts clutch around 5.3% of all Bitcoin—not exactly the Death Star, but still impressive. Nevertheless, Ammous waves away the worries with a jaunty flourish.
“Let’s not kid ourselves. Neither Saylor nor Fink is hoarding these Bitcoins under their pillow. The true owners are the shareholders and ETF holders—they who pay the piper,” he observed sagely.
He continued, “BlackRock and Strategy are simply fulfilling their fiduciary duties. If they decide to play rogue, investors will promptly reconsider, selling their coins and heading for greener pastures. The market has a flair for poetic justice.”
In a twist worthy of a Noël Coward plot, on April 24, the new kid on the blockchain, Twenty One Capital—helmed by Strike’s Jack Mallers and boosted by Tether, SoftBank, and Cantor Fitzgerald—is vying to dethrone Strategy as the ultimate Bitcoin treasury vehicle.
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2025-04-25 09:30