The first thing Bitcoin shows us and what stands out is that Bitcoin has been hijacked by old money.

In our current financial system, money comes with interest, so it needs to make more of itself. Bitcoin offers a great way to make new money from old corrupted money.

The cool thing when you have too much old money is that you can manipulate its price. Bitcoin is a young currency. In November 2019 it had a 200 billion market cap. Recently it surpassed one trillion. With this pace, it will surpass the market cap of gold in 2023.

Throw a billion in the ring, and the retail traders find themselves rekt on the floor. This is why big whales like the waters of Bitcoin. Elon Musk is one. He is playing around lately throwing tweets and billions around like Leonardo Di Caprio in Wolf of Wall Street.

This is how the game works.

Elon’s $1,5 billion Tesla cash playing money into Bitcoin caused a $8k move. You Long multi leverage, and BOOM, your 1,5 billion turns into 5 or even 10 billion. Easy. In a day.

Elon doesn’t even need money. Only changing his Twitter handle in January 29th caused a 20% move in Bitcoin, and a 20% increase in his portfolio is my best guess. Elon is an outer category now.

But also think hedge funds all the way to Governments.

Yesterday, India hated Bitcoin and banned it (again), but tomorrow, Narendra Modi might embrace it (again), influencing the price of Bitcoin, and shorting or longing it depending on the flavour of the day.

Feels like a secret inter-depended relationship to me. A highly profitable one.

Is Bitcoin here to only accumulate the enormous wealth at the top of the current pyramids of financial entities? Well, apparently the answer is yes. A recent study shows that

2% of Network Entities Control 71.5% of All Bitcoin

See the chart below

The good old printed out of nothing money has created a new pyramid of extremely rich Bitcoin wallets and owners inside the Bitcoin ecosystem. Together with the early adopters, they form the 2000 people that own 40% of Bitcoins.

As a magic mirror on the wall, Bitcoin reflects what our current world is made of, a few increasingly owning everything.

Believe it or not, but this is actually good for Bitcoin’s endgame. Read why here

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://medium.com/spirit-of-crypto/is-bitcoin-ready-to-change-the-world-f2f09b879298?source=rss——-8—————–cryptocurrency