Does Bitcoin Have a "Strategy" Problem?
Bitcoin (CRYPTO: BTC) was purpose-built for being uncontrollable. It can't be issued by any central bank, and it has no single point of failure, nor any real gatekeepers. On April 20, Strategy (NASDAQ: MSTR), formerly known as MicroStrategy, disclosed a $2.5 billion purchase that lifted its Bitcoin holdings to 815,061 coins, or roughly 4% of the circulating supply. For an asset whose narrative is built on decentralization and a wide distribution, having one company as its largest single holder is a strange plot twist, to say the least.
But does this concentration in Strategy's coffers threaten Bitcoin's investment thesis, or is it something worth monitoring rather than an emergency?
Image source: Getty Images.
Source Fool.com
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