How “concentrated” is bitcoin ownership/wealth? Much LESS concentrated than you are led to believe

How concentrated is Bitcoin ownership, which means Bitcoin wealth? The answer is much less so than you are led to believe. Here's why. So, anytime people throw out these studies and these reports about the top 10 Bitcoin wallets control X% of Bitcoin wealth or the top 10% or the top 1% own so much X, Y, and Z. What they always do is they talk about Bitcoin wallets, but they don't talk about the fact that those wallets do not represent ownership by one person. They they represent ownership by millions or even hundreds of millions of people. So for example, the top Bitcoin wallets are controlled by Coinbase, Binance, River, Strike. Those companies don't own all that Bitcoin themselves. They are custodying that Bitcoin. They are holding it on behalf of their customers. So, anytime these reports come out that talk about Bitcoin wealth being concentrated, if you were to run the exact exact same statistics, sorry, if you were to run the exact same statistics on the US dollar, what you would find is that the top wallets, so-called wallets, are controlled by like five entities. And you could say, look, the US dollar is radically centralized and the wealth is all controlled by one wallet called JP Morgan and another wallet called Morgan Stanley and another wallet called Wells Fargo and another wallet called Bank of America and things are so unfair because those five people own all the money. The answer is no, they don't. That's a moronic bozo stupid assertion. Those are banks who own or they're sitting on a huge amount of US dollars, but they don't own those dollars. those dollars are owned by hundreds of millions of people that each have a claim on those dollars as part of that ownership. So, Bitcoin works the same way. Bitcoin ownership is much more distributed than people uh would lead you to believe because they don't want to acknowledge that the very large wallets are not individuals. Those are companies that represent hundreds or you know hundreds of millions of individual people. So there's no way to know because those companies don't just like JP Morgan, they don't publish the bank balances of every one of their customers. And the same way in Bitcoin, Coinbase does not publish every Bitcoin balance for every one of their hundreds of millions of users. But if they did, you would find out that Bitcoin is much more distributed than the US dollar. The US dollar tends to concentrate because they constantly print more US dollars funnel them into the top of the funnel and the people who already have US dollars tend to have an easier time getting more US dollars. Bitcoin is much more of a bottom up phenomenon. A lot of people who own Bitcoin started out small. They're distributed all over the world, not just in the US or just in China or somewhere like that. So the ownership of Bitcoin is worldwide which is very distributed and it's a bottomup adoption phenomenon. And again where you have huge wallets that represent lots of Bitcoin, those are not wallets that represent one individual, those are wallets that represent ownership of a ton of people. And I wish that people would stop coming out with these research reports claiming that Bitcoin ownership is concentrated and the wealth of Bitcoin is concentrated because the statistics they always put forward are these ridiculous, moronic, stupid statistics that assume every Bitcoin wallet is a single human being rather than acknowledge that no, the one wallet they're talking about for Coinbase represents hundreds of millions of people's ownership of Bitcoin. That's much more distributed than they lead lead you to believe. So, Bitcoin is a bottom-up phenomenon because nobody can make more of it and give it to the people who already have it to start with. It has the ability to be the most widely distributed, most used and most uh evenly distributed uh currency in the world. Which means the people who have wealth are people who created wealth and the people who don't have wealth are people who are not doing valuable things for their fellow humans. which is the way money should naturally distribute rather than the way it does distribute with the US