That's a lot of money they are holding, but the overall market value of BTC is around 509 billion dollars, and compared to that, these $14 billion dollars are nothing. But the thing that puts some pressure on the community is the bankruptcy and downfall of these three exchanges. As a lot of people are using these exchanges. The trading volume of these exchanges is huge, and their downfall could put the market in the hands of manipulators.
One more thing: can we really say for sure that these entities are the biggest BTC holders because there are people who are totally under the radar and no one knows about them?
I think it’s more on bad side since the distribution of supply is prone to manipulation. This company is holding Bitcoin for personal gain while the market will be heavily affected in case something bad happened to them just like what you stated or if they started to take profit.
Having more BTC in a few people's hands does generate manipulation, but the market is open to everyone, and they have the full authority to sell and buy BTC. But in my opinion, these BTC they are holding are the golden eggs or Gloden Goose, and why would they kill the golden goose? While they could get golden eggs from it. If they lose the BTC, then they are the dumbest people, but they could also buy it again.
Such amount from these top holders are indeed small as compared to the overall market value of
BTC.
However, as you said, any bankruptcy from any of these big companies will surely put some wave on the market.
It may not be long lasting but at such point, it will make a mark. And will give some disturbance for such time.
We have seen a lot of ups and downs in this market, and yet, btc always come back to where it was, and still growing stronger.
It may be owed to the fact that the existence of this market is not dictated by any big company, or any government or authority.
Hence, it can stand independently from all these entities surrounding this market. No any group can topple this market.
