Saylor holding 10M BTC won’t ‘threaten the protocol,’ says author

Key TakeawaysBitcoin Standard author Saifedean Ammous says that even if one entity owned a huge amount of Bitcoin, it wouldn’t hurt the protocolAmmous reiterated major companies like BlackRock and Strategy don’t own the Bitcoin they hold since it belongs to the investorsAmmous said if these companies ever abused their position, people would likely pull their money and invest somewhere else. Michael Saylor’s Strategy hypothetically hoarding nearly 48% of Bitcoin’s total supply wouldn’t pose any risk to the Bitcoin protocol or its price, says Bitcoin Standard author Saifedean Ammous. “If Michael Saylor ends up with 10 million Bitcoin, what is he going to do? He’s likely just going to leverage them to buy more Bitcoin,” Ammous said during an April 25 interview with crypto entrepreneur Anthony Pompliano. Ammous dismisses Bitcoin hoarders posing risks“Ultimately, I don’t see how it would threaten the protocol in the serious sense,” Ammous said source: https://cointelegraph.com/news/michael-saylor-strategy-10-million-bitcoin-hold-no-risks-bitcoin-standard-author?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound