The new whales aren't people, or investors, or companies. The new whales are governments.
The US government is still sitting on around 130,000+ BTC, and it recently transpired that Germany (41,000 BTC) and the UK (50,000+ BTC) are also whales.
While it is definitely a good thing for Bitcoin price if governments get on board, the idea of a government, any government, owning a large chunk of Bitcoin is a bit scary.
That's the exact opposite of the reason why Bitcoin was created.
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