River's data shows $BTC is still majority retail-owned—the ONLY major asset where normies hold more than institutions.
But that's changing. As $BTC matures, expect the same shift we saw with gold: institutions gobble up supply, retail gets priced out or holds bags on exchanges.
The question isn't if, it's when.
Institutional dominance = deeper liquidity, less volatility, more legitimacy. But also means fewer coins in self-custody, more ETF wrappers, and Wall Street calling the shots.
Bullish for price? Probably.
Bullish for decentralization? Debatable.
What's your take—do you want BlackRock as your exit liquidity or your overlord?
But that's changing. As $BTC matures, expect the same shift we saw with gold: institutions gobble up supply, retail gets priced out or holds bags on exchanges.
The question isn't if, it's when.
Institutional dominance = deeper liquidity, less volatility, more legitimacy. But also means fewer coins in self-custody, more ETF wrappers, and Wall Street calling the shots.
Bullish for price? Probably.
Bullish for decentralization? Debatable.
What's your take—do you want BlackRock as your exit liquidity or your overlord?
