Who holds the massive premine?
None, maibe there are only couple lucky ones that saw it on 1-3 satoshi weeks ago, made their homework and loaded a wagon. They deserve to take some reward now, I hope they will make it softly, still fragile baby. Its going straight up because we need noble projects in this crazy crypto world.
What happened in the past was blockchain swap - we swapped from huge inflation to PoS with 8% inflation yearly. And in reality current inflation is more like 2-3% since not everyone keeps staking.