A friend of mine is not interested in buying Bitcoin even after learning about it.
Because according to him Bitcoin is a small number of people who have a lot of Bitcoin. They can easily go down on the bitcoin market if they want to.
Example: Cz. Craig wright & Michel Sailor etc.
Looking forward to the well thought out opinion of the experienced in this regard.
I can understand your friend and his reservation towards Bitcoin. Back in the days you could aquire a large amount of bitcoins very cheaply and quickly. These so called whales have a huge power over the bitcoin market and influence price considerably. However, this is not really something new, in the stock market there are huge investment managers and hedge funds than hold large parts of companies and can influence the prices heavily too. If someone like Warren Buffet decides to buy or a sell a company this is going to send the price flying. In my opinion this is not necessarily a bad thing, just because a few rich people own large parts of bitcoin doesn't mean that they want to push the price down. Long term the whales are interested in high prices as they can sell some of their coins and make huge profits. A low bitcoin price doesn't help the whales and price manipulation are not going to last forever.
Similar to stocks, Bitcoin's 'whales' have considerable power. However, their desire to maintain or increase Bitcoin's value is clear. Why? Simple: self-interest. Whales, like smart investors in any market, maximize rewards. They profit from high Bitcoin prices for sell-offs.
Think about it: Decentralization and blockchain technology make Bitcoin transactions transparent. Bitcoin transactions are public, unlike traditional markets where significant players' moves are hidden. Price manipulation exists, but only temporarily. Bitcoin has grown over time, often recovering from market manipulations.
Supporting Bitcoin means recognizing a transformational financial ecosystem that evolves and matures like any other market. Whale presence? The game frequently favors long-term strategy over short-term gains.