Developer, Bitcoiner, Entrepreneur, Author of "The Truth About Bitcoin"

Sylvain Saurel

The answer to this question will depend, in my opinion, on your understanding of the Bitcoin revolution, but especially on its objectives.

Let's go back to the basics, that is to say, the Bitcoin whitepaper.

Read the Bitcoin whitepaper.

Do you remember the title?

Let me help you: "A Peer-to-Peer Electronic Cash System".

Bitcoin is therefore designed by Satoshi Nakamoto as a P2P system. The ultimate goal of Bitcoin is to be a means of exchange. At the heart of this system, you have the bitcoin which is the coin used for exchanges on the network and which is divisible up to 8 digits after the decimal point.

The superior monetary attributes of bitcoin make it a hard money and a store of value destined to replace gold in the long term for new generations.

If you then read the various messages of Satoshi Nakamoto on the forums during the first months of the Bitcoin network, you will understand that the goal of the Bitcoin system is clearly to offer the people a superior alternative to the fiat system which is flawed and not fixable.

The goal of the Bitcoin revolution is not for Bitcoin to be integrated into the current system where it will be marginalized as a simple store of value.

However, if you look at what BlackRock and the other financial giants are currently doing, but also Michael J. Saylor, this is what is happening. These actors are praising Bitcoin as a store of value and want to make the general public believe that Bitcoin as a means of exchange is a distraction.

It is August 14, 2024. As of today, here are the largest known holders of Bitcoin:

Beyond the supposed million BTC held by Satoshi Nakamoto that will not move, you see that BlackRock holds on behalf of its clients nearly 350K BTC. And yet, BlackRock does not really hold them since it is Coinbase that has the private keys to BlackRock's BTC units...

In combination, American ETFs hold more than 900K BTC. The majority of these BTC are stored by Coinbase which now has a central place. All this poses a major risk and goes against the decentralization conveyed by the Bitcoin revolution.

At the current rate, you can imagine that BlackRock will have more than 500K BTC by the end of the year and that American ETFs will hold more BTC combined than Satoshi Nakamoto supposedly owns.

All this Bitcoin will be blocked. Blocked because it cannot be used in a circular economy based on the Bitcoin system. EXIT the idea of ​​Bitcoin as a P2P system to replace the fiat system.

It’s sad, but this is what we are currently moving towards. The danger is major and yet, all the so-called Bitcoiners that you see in Sh*tcoiner conferences like the Bitcoin Conference in Nashville are trying to make you believe that this is something positive.

At this conference in Nashville, you could even hear Michael J. Saylor calling for America to own the majority of the Bitcoin in circulation!

With what money Michael?

Will the American government follow the same strategy as Michael J. Saylor by using debt to buy this Bitcoin? So, the American government would use fiat money printed out of thin air to buy this Bitcoin. This Bitcoin would therefore be bought by stealing a little more from the people.

You see that we are here at the antipodes of the ideas of the Bitcoin revolution. The Bitcoin revolution belongs to the people. Bitcoin is a system created to liberate the people, not to allow the American government to totally control them.

If you understand the deeper meaning of the Bitcoin revolution, then you can only be worried about what is happening right now. If you are one of the pseudo-Bitcoiners interested only in financial profit, then you will be delighted to imagine that this will allow the price of Bitcoin to exceed $100K in weak money.

It is up to you to decide as always.

The answer to this question will depend, in my opinion, on your understanding of the Bitcoin revolution, but especially on its objectives.

Let's go back to the basics, that is to say, the Bitcoin whitepaper.

Bitcoin is therefore designed by Satoshi Nakamoto as a P2P system. The ultimate goal of Bitcoin is to be a means of exchange. At the heart of this system, you have the bitcoin which is the coin used for exchanges on the network and which is divisible up to 8 digits after the decimal point.

The superior monetary attributes of bitcoin make it a hard money and a store of value destined to replace gold in the long term for new generations.

If you then read the various messages of Satoshi Nakamoto on the forums during the first months of the Bitcoin network, you will understand that the goal of the Bitcoin system is clearly to offer the people a superior alternative to the fiat system which is flawed and not fixable.

The goal of the Bitcoin revolution is not for Bitcoin to be integrated into the current system where it will be marginalized as a simple store of value.

However, if you look at what BlackRock and the other financial giants are currently doing, but also Michael J. Saylor, this is what is happening. These actors are praising Bitcoin as a store of value and want to make the general public believe that Bitcoin as a means of exchange is a distraction.

It is August 14, 2024. As of today, here are the largest known holders of Bitcoin:

Beyond the supposed million BTC held by Satoshi Nakamoto that will not move, you see that BlackRock holds on behalf of its clients nearly 350K BTC. And yet, BlackRock does not really hold them since it is Coinbase that has the private keys to BlackRock's BTC units...

In combination, American ETFs hold more than 900K BTC. The majority of these BTC are stored by Coinbase which now has a central place. All this poses a major risk and goes against the decentralization conveyed by the Bitcoin revolution.

At the current rate, you can imagine that BlackRock will have more than 500K BTC by the end of the year and that American ETFs will hold more BTC combined than Satoshi Nakamoto supposedly owns.

All this Bitcoin will be blocked. Blocked because it cannot be used in a circular economy based on the Bitcoin system. EXIT the idea of ​​Bitcoin as a P2P system to replace the fiat system.

It’s sad, but this is what we are currently moving towards. The danger is major and yet, all the so-called Bitcoiners that you see in Sh*tcoiner conferences like the Bitcoin Conference in Nashville are trying to make you believe that this is something positive.

At this conference in Nashville, you could even hear Michael J. Saylor calling for America to own the majority of the Bitcoin in circulation!

Will the American government follow the same strategy as Michael J. Saylor by using debt to buy this Bitcoin? So, the American government would use fiat money printed out of thin air to buy this Bitcoin. This Bitcoin would therefore be bought by stealing a little more from the people.

You see that we are here at the antipodes of the ideas of the Bitcoin revolution. The Bitcoin revolution belongs to the people. Bitcoin is a system created to liberate the people, not to allow the American government to totally control them.

If you understand the deeper meaning of the Bitcoin revolution, then you can only be worried about what is happening right now. If you are one of the pseudo-Bitcoiners interested only in financial profit, then you will be delighted to imagine that this will allow the price of Bitcoin to exceed $100K in weak money.

Sylvain Saurel

Should You Be Concerned About the Financial Giants’ Gradual Takeover of the Bitcoin Market?