I do not like this type of news at all, because this action is a clear sign that speculative bubbles can be repeated again and again in this fragile market, because the old ideal of using bitcoin as a substitute for money fiat has been left far behind, to become almost exclusively an instrument of speculative investment, with very little use in the real economy.

Of course, this massive accumulation of bitcoins paints an ideal scenario for a new hike where only the great whales will benefit, by manipulating the price of bitcoin at convenience thanks to the large number of bitcoins they hold.