I agree. I definitely don't like the idea of the big money managers consolidating so much of a rare asset like Bitcoin, especially when it wasn't meant for them. But for so many people, it takes seeing the big institutions trust in it for them to trust it, too. It's the safe way to be intellectually lazy; waiting for approval from up above.

That said, I hope other nations collect as much as they can to prevent US institutions from hoarding so much that it's practically pointless.