That's what we can observe now, I don't understand why there is so much excitement about getting instututional giants and bankers into bitcoin. Better adoption, more money from institutional investors flowing in etc.yes it's all happening now but is it really good?
Will everybody be happy to know that PayPal, Grayscale, Square, some Wall street banks and few greedy hedge funds control the rest of the supply and price?
Big question if the project failing or not, it's not clear yet but there are some worrysome signs.
I believe we should be worried more about a large percentage of the supply is controlled by custodians, or services like PayPal becoming THE custodians, removing the sovereign store of value feature, and majority of usage of Bitcoin, as a medium of exchange, would be through them.