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As much as the news would have you believe that less whales and individuals are holding BTC, don't believe it.
Individuals still hold about 9x what any organisation or government holds combined! Even the BTC that's attributed to exchanges belongs to individuals.
You should be able to see through the purpose of such headlines.
The most recent one on Bloomberg that's flying around says that Bitcoin whales dumped 500k BTC in the past year while organisations accumulated over 900k BTC.
It paints a picture that Bitcoin is becoming more of an institutional asset, and almost screams "individuals keep off!" And these institutions would love that so that they can hold the largest chunk of the asset and control it just as they do fiat.
if we're going to maintain BTC's decentralised nature, then HODLers should constitute as much individuals as possible.