but it does affect fundamentals.
we're about 20m coins mined, 4m lost allegedly, so 16m in circulation.
Blackrock and Strategy own 1.6m between them so thats 10% out of circulation for the medium term...
If they hold coins they reduce supply, which raises the purchasing power of the remaining coins. that's not price control.
Bitcoin would only "fail" if ownership concentration came from coercive state privilege rather than market transactions. That might happen, but it's not the case now.
Bitcoin would only "fail" if ownership concentration came from coercive state privilege rather than market transactions. That might happen, but it's not the case now.