Unpopular opinion: Bitcoin won't replace gold in the West, if things stay the way they are

Ya'll remember how the Chinese Government is hodling a shit ton of bitcoin that they have just confiscated? They are the second biggest holders after Grayscale, a company that manages crypto investment funds.

Bitcoin is a better gold than gold, yeah I know. In our wet dreams we dream of the US government or the SEC coming out and saying that they have secretly bought big chunks of bitcoin. The price would actually skyrocket, and mainstream adoption would come a long long way. However, as we stand now China owns way too many bitcoins, it would give them way too much control.

It might be worth to keep an eye on whether China auctions off any of their holdings. That would mean the West could get one step ahead, and profit greatly from being the first ones buying in. So basically, I'd argue that adoption would not become mainstream until there are single whales holding this much each. What we want is many companies/governments/people holding less percentage of the whole market instead.