While I understand that many of us HODL, isn't this just wrong for the future of BTC. First, Satoshi created BTC as a currency. It is intended to be spent.
It may sound strange, but a lot has changed since Satoshi introduced Bitcoin to the world, and the idea of BTC being a currency is something that is fading, and not just because many complain that their fees are too high, but also because it is promoted by all those influential players in the crypto world who buy BTC as a long-term investment.
Personally, I don't think it leads in the right direction, because sooner or later most of the BTC will end up in the hands of those who will have the most money - and it will happen in a completely natural way, on the way up ordinary people will sell, the rich will buy.
10 years from now let’s imagine the following scenario :
- Mr. Mars and its companies own about 1 million BTC.
- Saylor and his Microstrategy own 2+ million BTC.
- Various other companies around the world own another 2 million BTC.
- Grayscale and similar funds that will soon become ETFs own about 10 million BTC.
- Several dozen countries have declared Bitcoin legal tender owning about 2 million BTC.
- Between 2-4 million BTC is irretrievably lost.
The question is what will eventually remain for the average Joe? Probably a lot of worthless fiat...