{"id":3590,"date":"2024-12-02T16:31:03","date_gmt":"2024-12-02T16:31:03","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=3590"},"modified":"2024-12-02T16:31:03","modified_gmt":"2024-12-02T16:31:03","slug":"why-bitcoins-institutionalization-is-a-concern","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=3590","title":{"rendered":"Why Bitcoin’s Institutionalization Is ‘A Concern’"},"content":{"rendered":"
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Bitcoin<\/strong>‘s (CRYPTO: BTC<\/a>) transition from a decentralized digital asset to one dominated by institutional players has introduced a new set of risks<\/a>.<\/p>\n

What Happened: <\/strong>With Bitcoin exchange-traded funds (ETFs)<\/a> in the U.S. now holding over 1 million tokens\u2014equivalent to 5% of its total supply\u2014the cryptocurrency is increasingly controlled by financial institutions and even governments, reshaping its original decentralized ethos, Bloomberg reported<\/a>.<\/p>\n

The establishment’s growing control over Bitcoin is evident in the push for a U.S. government Bitcoin reserve<\/a>.<\/p>\n

A proposal by Wyoming Senator Cynthia Lummis<\/strong> suggests selling Federal Reserve gold to purchase 1 million bitcoin<\/a>, potentially doubling the government’s existing holdings acquired through asset seizures.<\/p>\n

While President-elect Donald Trump<\/strong> has not yet endorsed the bill, his pro-crypto stance<\/a> has heightened expectations for such a move.<\/p>\n

Mark Connors<\/strong>, founder of Risk Dimensions<\/strong>, warns of potential consequences saying, “Will this be a risk of being concentrated by existing G-10, G-20 countries or institutions like BlackRock? This is a concern, especially for the purists.”<\/p>\n

Bitcoin’s appeal to …<\/p>\n

Full story available on Benzinga.com<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Bitcoin‘s (CRYPTO: BTC) transition from a decentralized digital asset to one dominated by institutional players has introduced a new set of risks. What Happened: With Bitcoin exchange-traded funds (ETFs) in the U.S. now holding over 1 million tokens\u2014equivalent to 5% of its total supply\u2014the cryptocurrency is increasingly controlled by financial institutions and even governments, reshaping […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-3590","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/3590","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3590"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/3590\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3590"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3590"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3590"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}