CoinShares analysts have disputed the widespread belief that only a small group of people manage and develop the Bitcoin network.
The Wall Street Journal had recently published an article titled “The future of bitcoin depends on a small group of secret programmers” but, according to CoinShares’ February 17 report, the development and approval of Bitcoin Core software is propelled by a vast and dispersed workforce.
Experts claim that researchers, developers, testers, and reviewers from around the world are all involved in the project. They work together to enhance and sustain the software, with anyone participating in the Bitcoin Core project being regarded as a member.
This collaborative, transparent approach is considered crucial to the success and growth of the project. Despite this, various conspiracy theories have arisen around the origins of the first cryptocurrency. Natalya Kasperskaya, for instance, has claimed that BTC is a creation of US intelligence agencies.