Saylor holding 10M BTC won’t ‘threaten the protocol,’ says author
Michael Saylor's firm, Strategy, holds 538,200 Bitcoin, valued at approximately $50.18 billion. Saifedean Ammous, author of "Bitcoin Standard," asserts that hoarding significant amounts of Bitcoin, such as 10 million BTC, would not threaten the Bitcoin protocol or its price. He believes Saylor would likely leverage his holdings to acquire more Bitcoin rather than attempt to manipulate the supply. Concerns about Bitcoin whales leading to market manipulation or liquidity issues are noted, but Ammous argues that ownership is distributed among shareholders and ETF holders. He emphasizes that any harmful management of holdings by firms like BlackRock or Strategy would prompt investors to seek alternative exposure to Bitcoin. Additionally, Twenty One Capital, a new Bitcoin treasury company, aims to provide a competitive investment vehicle.
