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Why They Don’t Want Us to Be in Crypto
Is there any surprise about the wild fluctuations and persistent fearmongering in crypto?
Institutional investors don’t want us in this market, let alone near any highly speculative investment, notably trading GameStop (NYSE: GME) shares in 2021.
A combination of measures, including some self-inflicted ones, is helping the big end of town assert its dominance in crypto.
What’s the evidence? Here you go.
— We’ve seen significant and rapid accumulation of BTC from the 12 spot ETF providers. These now control over 1.1 million BTC, roughly $104 billion, representing 5.4% of the max supply.
— Let’s not forget about (Micro)Strategy, which currently holds ~499,000 BTC, and other companies snapping up as much Bitcoin as quickly as possible.
— The Top 100 ETH wallets hold 70% of ETH’s supply, up from 55.5% a year ago. Out of this, the Top 10 controls 57%, 14 percentage points more than March 2024.
— BTC whale holdings have grown at faster rates than smaller wallets (more on this shortly).
— I even found a scientific journal article documenting the increasing influence of institutional investors in crypto. I’ve included more resources at the end of this piece.
Besides businesses boosting their BTC exposure, let’s not forget about governments at the state and federal levels wanting to be part of the game: Twenty US states have expressed an active interest in buying it, and Trump’s crypto…
