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(Kitco News) – Bitcoin is one of the most unevenly distributed assets in the world, with just under half a percent of all bitcoin investors owning more than 80% of all bitcoin, and if they were to liquidate, the market could see a substantial sale. off, said Ryan Giannotto, director of research at GraniteShares ETFs.
“This is a major challenge for the asset class: it aims to be a force for financial democratization, but it is so deeply unevenly distributed. It is truly unlike anything we have ever seen. This is one of the dangers of investing in bitcoin that is neither reported nor discussed, ”said Giannotto. “It’s a seriously cornered asset class.”
Five hundredths of a percent of bitcoin investors control more than 40% of all bitcoin, and just under half a percent of all bitcoin investors control 5 / 6th, or 83%, of bitcoin, a-t he noted.
Most of these bigger players, or “whales” as they are called in the crypto community, are the early adopters of bitcoin.
If these early bitcoin enthusiasts sold their holdings completely, it would exceed the daily trading volume, which would “wipe out” the asset, Giannotto said.
Warning: The opinions expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure the accuracy of the information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is for informational purposes only. This is not a solicitation to effect an exchange of commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept guilt for any loss and / or damage resulting from the use of this publication.
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