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72 sats \ 0 replies \ @rleed 27 Sep 2023 \ on: Implications of Saylor Owning Nearly 1% of All Bitcoin bitcoin
A. Hodling takes coin off the market, similar to bitcoin that is lost, which makes the value go up (however insignificantly) for all. That means, by buying up coin, Saylor is increasing everyone else's bitcoin net worth.
B. Spending previously hodled coin puts it back on the market into the hands of others, which supports the bitcoin economy according to how the money is spent.
C. Either way (by mechanism A or B) the value is distributed to other participants. The more bitcoin is hodled OR spent, the more the wealth is dispersed.
D. The only advantage wealthy bitcoiners have is the starting advantage, because they have more wealth that they can choose when/where to spend. But over the long term, wealth is automatically distributed to the best value producers (through mechanisms A and B).