Recently, David Marcus, a former CEO of Paypal, asserted that Bitcoin is the sole blockchain not under the influence of any specific person, or company, compared to other so-called decentralized assets.
Marcus added that the financial world is yet to fully internalized the terminal value of Bitcoin’s decentralized nature. However, some crypto enthusiasts do not share Marcus’ sentiment. Mark Ghuneim argued that large stakeholder concentrations allow certain people, corporations, or organizations to influence the Bitcoin network.
Concentrated holdings of large stakeholders make it possible for specific individuals, companies, or groups to influence it. Market forces can also be influenced. see also “Bitcoin Genesis Block” or “Bitcoin whales”
— Mark Ghuneim (@MarkGhuneim) January 14, 2023
In an earlier tweet this month, the former CEO of Paypal expressed that most people only concentrate on the price of Bitcoin each time they talk about it rather than its underlying technology. He made a new-year resolution to shit the narrative. Specifically, he said:
When most people talk or think about Bitcoin, it’s all about the asset and its price. My hope (and goal) for this year is to start shifting the narrative to its underlying technology and what it’s capable of. So much opportunity lies ahead!
Due to the FTX fiasco, Bitcoin (BTC) fell from over $21,000 to a two-year low of $15,883 last November. The coin never recovered its $21k price until yesterday, when it traded at $21,075, the first time in nearly nine weeks, according to data from the market tracking platform, CoinMarketCap.
Additionally, in an exciting turn of events, the global crypto market cap is on track to cross the $1 trillion valuation again after it closed 2022 below $790 billion.