Currencies circulate. If Bitcoin succeeds as a currency, it will be because those big holders put their bitcoins back into the economy, which gives them a chance to pool at the people and organizations who are creating the most value and not the people who originally mined them. If large Bitcoin holders do not put their money back into the economy, Bitcoin will fail as a currency and their holdings will be worth nothing.

This is one reason I'm somewhat more optimistic about Dogecoin. Dogecoin culture is explicitly centered around tipping, donations, and goods & services, which is what you need to get a new currency going.

It's also quite interesting that the whole progression of gold -> dollars -> Bitcoin -> Dogecoin follows Gresham's Law [1]. At each stage, currencies that are hoarded for their value are replaced by currencies that are intrinsically more worthless, because the lower value of those currencies means they can be held by a larger fraction of the population who has a demand for goods & services but no means of payment. This makes me wonder if in the absence of central regulation, currencies are subject to the same disruptive innovation forces as the tech industry, where the success of a currency sows the seeds of its eventual downfall.