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The move comes at a time when the global cryptocurrency industry has been caught in the crosshairs of the U.S. securities regulator on alleged violations of securities laws. Could it be that BlackRock has been buying Bitcoin throughout the whole bear market using this PRIVATE trust?
Is the analysis oversimplified? what will happen if several ETF spot bitcoin ar approved and large asset managers become forced buyers? As show below, a small number of adresses owns the vast majority of BTC currently in circulation. However, some analysts believe that this table is misleading. For instance, glassnode highlighted that the table below does not factor in custodians, lost coins, and wrapped BTC. Adjusting these numbers might get you below 50% of concentration for the top 2% adresses, which is still high but much better than the current global wealth distribution. Still, this raises the question about how big will the supply/demand imbalance be the day several Bictoin spot ETF are approved. Indeed, asset managers will become forced buyers of an asset which is indeed quiet scarce. It is however possible that some "wwhales" might take advantage of rising demand and price increase to offload some of the BTC they have been hodling. Time will tell.