Anything of value available on the market for purchase will naturally attract the attention of the wealthy; consequently, the richest individuals will eventually end up holding a larger share of that asset compared to others. This is to be expected. The same was anticipated for Bitcoin: the wealthy saw a profitable opportunity, so they will continue buying as much as they wish. However, this does not mean they won't eventually sell allowing others to buy inso, in my opinion, the institutionalization of Bitcoin is not a bad thing.
The rich are smart and they're experienced to make decisions for profit.
Where there is smell of money, the rich will be there, and Bitcoin market is a great place with massive opportunities for profit.
On the contrary, it encourages governments to be more accepting of Bitcoin and allows their citizens to purchase it. for example, from this recent article:
Accept Bitcoin is good but there will be cons too.
Governments were against Bitcoin in the past, called it as a fraud and they could change their legal stance and governance on Bitcoin, but acceptance for Bitcoin does not mean governments won't implement more and stricter regulations on Bitcoin market and their citizens.
Citizens in some nations now can use bitcoin legally but there are legal terms to obey: tax, travel rule and more.
