CandleFocus Bitcoin has been billed as the people’s money, but is it as decentralized as they want you to believe?
2024-12-10
Author: Content Editor
Financial analyst Vik Aggarwal presented data showing that only 2% of Bitcoin addresses hold 74% of the digital asset, contradicting the decentralized and egalitarian nature of BTC. Aggarwal warned that the concentration of power could be problematic if these "whales" decide to sell their holdings, citing a Chinese firm that triggered a $649 million flash crash. The issue sparked a debate among commenters on whether BTC's decentralization was referring to the consensus protocol or the distribution of wallet amounts. The discussion has become more relevant as institutional investors show interest in BTC, with some seeing it as a sign of confidence while others worry it may make the cryptocurrency less accessible to retailers. There is a growing need to ensure Bitcoin stays true to its creator's vision.
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