Bitcoin ETFs Surge Amidst Establishment Influence and Record Holdings

Bitcoin's increasing adoption by establishment institutions, including the potential for a US government stockpile, is raising concerns about concentration risk. With over 1 million Bitcoins held by US exchange-traded funds and significant holdings by companies like MicroStrategy, the cryptocurrency's landscape is shifting from its libertarian roots. Despite these changes, the demand continues to drive prices up, and the decentralized nature of Bitcoin's blockchain prevents any single entity from controlling its operations.