Did Bitcoin Just Get Hijacked by Wall Street?

The analyst behind a recent deep-dive on Bitcoin’s “institutional era” argues that the network hasn’t broken, but its original mission has quietly morphed. Bitcoin was designed as peer-to-peer electronic cash, outside banks and governments. Today, some of its largest holders are the very institutions it set out to bypass — and that, Fire Hustle says, is reshaping how the asset trades and who holds the real power. ETFs, Mega-Holders & a New Kind Of “Demand Floor” She also zeroes in on two intertwined trends: spot Bitcoin ETFs and corporate treasuries. MicroStrategy alone now controls more than 700,000 BTC, according

Continue reading on DailyCoin.