We know that Bitcoin and crypto adoption has increased significantly in recent times. Its profile gets larger and more prominent with each year that passes. Corporations, banks, universities and governments are becoming more immersed in it as is the ordinary person. It is this latter group of people that interests me for the purposes of this post.
As the years have rolled on and I have continued to work in the crypto space I have observed how the mainstream media has been forced to change the narrative, although not by much I have to say. When I got into crypto in 2017 the msm was aggressively anti-crypto and would produce report after report warning of the dangers of crypto and how it was all a scam.
That was back then. Today crypto is more accepted, the news media anti-crypto campaign did not work though they still try. And even though the news media has shifted a little bit in a more positive direction when it comes to crypto you can still always see that negative filter attached to virtually any story relating to crypto. Some news outlets are just as hard line anti-crypto others less so, but overall the msm continues to distort the real crypto picture and are there to simply prop up the whole corrupt central financial system. I repeat again - the msm campaign to dissuade and deter people from crypto may unfortunately succeed with some unsuspecting minds but with others it has not worked.
But before the banks and the corporates got involved in crypto it was those very early adopters and believers in Bitcoin that got us to where we are today. Bitcoin could never have hit $100,000 without those early grassroots adopters. This was the point, Bitcoin was meant to be the alternative, it was created to be a beacon of financial hope for ordinary people across the world. And my word it did it. Bitcoin and crypto has been an extraordinary force for good for so many ordinary individuals. It has given ordinary folk who struggle to make ends meet a lifeline.
(Source: Bitcoin Asset Management)
But with the banks, corporates and governments now wanting a piece of the crypto pie for themselves I have often wondered how long will it be before they get to own the whole pie. While their adoption of crypto can also be seen as a positive in that it helps to legitimise crypto, encourage adoption and push prices up which is a good thing, there is also the darker side to this encroachment. How long then before they dominate the space?
The good news is that the grassroots still have it, and that is wonderful. Take a look at the above graph produced by Bitcoin Asset Management at the end of last year. It shows that in fact only around 12% of the total Bitcoin supply is in the hands of businesses, managed funds and governments. It states around 7.5% of Bitcoin is simply sat in wallets that can not be accessed, with those funds now lost. Satoshi has around 4.6% and there is still 5.7% Bitcoin yet to be mined.
Therefore it is wonderful to see that 70% of the total Bitcoin supply is owned by people. Now some of these people might not be ordinary folk, some of them will be your mega rich millionaires and your Elon Musks. But nonetheless knowing that 70% of total Bitcoin ownership is in the hands of people and not organisations is welcome news. I had actually thought it would a lot lower than that given the levels of corporate and government infiltration of the crypto space we've witnessed in recent years.
Remember we are the 70%. They are the 12%. In my books that is acceptable, for now. I dare say though the figure will change.
Peace!
Enough real humans that care…. Got involved early.
The big players and money fuckers will do there best to control, manipulate and dominate, but we real peeps got a good head start 🤓
Yes, I hope you're right. But those big players are powerful and determined, let's just hope they don't get too powerful in the crypto space.