Can whales hold bitcoin?

Could you elaborate on the feasibility and implications of whales, referring to large investors or entities with significant holdings, maintaining a stake in Bitcoin? Specifically, are there any regulatory concerns, technical limitations, or economic incentives that may influence their decision to retain Bitcoin in their portfolios? Additionally, what are the potential market impacts if whales decide to hold onto their Bitcoin, particularly in terms of volatility and liquidity in the cryptocurrency market? Understanding the motivations and constraints of these influential investors is crucial for assessing the overall stability and direction of the Bitcoin ecosystem.