I think it's more likely that they would be selling when it gets too high and buying when it gets too low to stablise, rather than increasing volitility, though.
Agree with selling when it gets too high, but I actually think volatility helps us shake loose our mindset of thinking in terms of $ and start thinking in terms of
BTC instead.
I also liked your comment about certain great whales being less concerned with just "making money." I think at a certain point people are more concerned with shaping the world, hoping to make it a better place, and leaving a legacy that will be remembered fondly in history books.