The 'Whale's Dominance' and Centralized Risks
One entity holds over 818,000 BTC, which goes against the decentralized vision.
Let's look at an unavoidable fundamental fact: by May 2026, just MicroStrategy alone will possess over 818,000 Bitcoins, accounting for about 4% of the total circulating supply.
This concentration of holdings has created an unprecedented 'whale position' in Bitcoin's history, capable of influencing the market ecology.
This stands in stark contrast to Satoshi's vision of one CPU, one vote, and a decentralized network on a physical level.
Saylor's victory has, in effect, intensified the centralization of Bitcoin asset ownership through massive capital.
This means that a single company's financial decisions (like dealing with debt or regulatory pressure) could cause a tsunami-like impact on the market, which itself undermines the original intent of Bitcoin's anti-fragile design.
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