Public companies now own over 1 million BTC, which is roughly 5% of all Bitcoin in existence. At the forefront is Strategy, holding a whopping 636,505 BTC. Bitcoin is becoming scarcer, and the accumulation by big players is only heating up the market.
And that's the problem right now. As more companies accumulate their Bitcoin, the higher the chances of manipulation because anytime, they can just sell their Bitcoins as long as they're in profit. Saylor holding his Bitcoins forever? F*cked it. He isn't that stupid enough to not take profit even though 1 BTC = $500,000. At some point, he will take profit because he's a businessman/investor, and their priority is to make money and that includes their Bitcoin holdings.
I'm not sad with what's happening since they have the capability to accumulate Bitcoin whenever they want to, but at the same time, I'm not happy as well that a large chunks of Bitcoin that's supposedly going to the retain investors are going to the rich people and those who own large companies. Yes, the adoption might be increasing, but even without them, I believe that the adoption will still increase. They just made the adoption rate faster.
Big milestone? Probably, but not for me.