It’s happening, small investors are growing in dominance over the whales as more and more people are investing and adopting Bitcoin:

Small Investors are Flooding into Bitcoin as Whales Start Losing Market Dominance

Data shows that small investors – defined as those holding less than ten Bitcoin – are rapidly gaining control over the benchmark crypto’s circulating supply.

This trend was highlighted in a recent post from analytics firm Glassnode, in which they explain that over the past five years, the percentage of the BTC supply owned by entities with less than ten BTC has grown by nearly 9%.

They also note that the percentage of the supply owned by entities holding between 100 and 100,000 BTC has declined from roughly 63% to 49.9% currently.

“Control of Bitcoin’s supply has been steadily shifting towards smaller entities. The % of supply owned by entities holding ≤ 10 BTC grew from 5.1% to 13.8% in 5 years, while the percent held by entities with 100-100k BTC declined from 62.9% to 49.8%.”

Full article here: https://www.newsbtc.com/2020/08/07/small-investors-are-flooding-into-bitcoin-as-whales-start-losing-dominance-over-market/