#risk

Individuals will lose bitcoin and will benefit the network (everything / 21M).

But institutions will lose bitcoin and (my opinion) detriment the network. They rugpull their service, create a loss of confidence, and then dump whatever bitcoin they have left on exchanges.

So my unpopular opinion is:

The network should be appropriately discounted (in fiat) whenever an institution holds a large portion of the networks coins.

But on the other side:

Insurance provided by a well funded fiat not denominated in the network currency can remove that discount to the extent their limits prevent the consequences associated with lost bitcoin.