Who really holds Bitcoin’s law?
BlackRock can buy a million coins, nations can stockpile more, banks can fill vaults — but they’re buying into Bitcoin on Bitcoin’s terms. Consensus isn’t enforced by Larry Fink, nation-states, or miners. It’s enforced by thousands of ordinary users running nodes.
This is the first time in history that the fifth-largest asset on Earth has its rules safeguarded by plebs. Gold was ruled by kings. Fiat is ruled by central banks. Bitcoin is ruled by open-source code, validated by an anonymous global army of ~20,000 node runners.
Even if BlackRock tried to corner supply, the math doesn’t work. They’d need millions of coins — and every coin they buy just pushes scarcity higher, pricing them out further. More importantly, buying coins does not buy consensus. The rules — 21M, proof-of-work, no bailouts — remain untouchable.
That’s the bizarre and beautiful part. Never before has the “law” of money been held by those who serve kings, live under kings — and now, by ordinary people across the world. It’s not miners, it’s not Wall Street, it’s not Davos. It’s the plebs who run the software.
Bitcoin is a huge experiment with no precedent. Nobody — not BlackRock, not the U.S. government, not China or Russia — knows how it ends. That’s the Trojan horse: they think they’re absorbing Bitcoin, but they’re stepping into a system where they don’t hold the pen that writes the law.
