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Bitcoin Is Controlled by a Small Group of Investors
A small elite is benefiting despite the cryptocurrency crash
Nothing about the Bitcoin crash came as a surprise.
It was expected that bitcoin would be the revolutionary currency.
These crashes have completely dismantled that myth.
New research shows that Bitcoin (BTC) is controlled by a small group of investors who, although also affected by the bitcoin crash, did not go into depression and fasting like thousands of small investors.
But on the contrary.
This elite can be expected to grab more and more profits in the future.
Baylor College of Medicine and Rice University studied the activities of Bitcoin miners and investors between 2009 and 2011. The first two years after the inauguration of the currency’s market.
These researchers traced a bunch of transactions to users’ addresses and made cross-connections.
They understood that Bitcoin did not live up to the claim of being an egalitarian currency from the beginning.
Conclusion: “In the first two years, only 64 players controlled the bitcoin industry.”
