BlackRock’s $IBIT owns ~3% of all Bitcoin. How do we feel about that?

Disclaimer: my post was removed from the big Bitcoin sub for being done already, I guess.

I’ve always looked at Bitcoin as a solid long-term asset, but I’ve never been the guy to rant about central banks or “end the Fed, I like holding something outside the traditional financial system, however.

That’s why it feels weird seeing how fast institutions like BlackRock are scooping up BTC. IBIT already holds around 3% of all Bitcoin. That’s… a lot.

And yeah, ETFs make it easier for people to get exposure, which is cool. But at the same time doesn’t this go against the idea of decentralized ownership? We’re seeing more Bitcoin get locked into vehicles where individuals don’t actually hold the keys.

This might ruffle feathers here, but BTC is starting to feel more like another Wall Street product than a self-sovereign asset.

That’s got me genuinely wondering where this goes. Does this kind of institutional consolidation worry anyone else or is it just part of Bitcoin going mainstream?