Venture capitalist Jason Calacanis, who has invested in companies like Uber and Robinhood, warned on the X platform that if a company owns 10% or more of Bitcoin, the reputation of Bitcoin as a decentralized financial tool may be at risk, making people feel that Bitcoin is no longer fair. He explained, 'If any one person owns too much Bitcoin, it will undermine the game of Bitcoin. I think the proportion of investment in Bitcoin can be around 10%. For MicroStrategy, if they acquire too much Bitcoin, everyone in the crypto community will naturally think they are 'working for' Michael Saylor and feel deeply dissatisfied with him, eventually moving to another, fairer 'game.'