#Satoshi explaining in 2009 the cautions we have with #Blacrock buying $150,000,000 worth of  #Bitcoin everyday in 2024

When someone tries to buy all the world’s supply of a scarce asset, the more they buy the higher the price goes. At some point, it gets too expensive for them to buy any more. It’s great for the people who owned it beforehand because they get to sell it to the corner at crazy high prices.

This was Satoshi’s response to a concerned community member who had asked if a malicious individual could opt to buy all the bitcoin in order to make the network useless. 

 Not only that, but the high transaction fees force you to spend your bitcoin if you want to use it. And you cannot use lightning because the amounts are too big. Even the richest of the rich will need to pay the working class. In order to use their wealth, they have to give some away. Fantastic.