Not true. I think is the top investor in the top 19 witness list, and one of the top investors in all of Steem. He converted quite a lot of Steem Dollars (6 figures) into STEEM and most of it got powered up. Other witnesses such as
and
have powered up a lot of liquid STEEM that they could have otherwise sold on the market.
Witnesses have invested in Steem in other ways than money, too. There's generally a reason why someone gathers enough approval votes to be there.
RE: Witnesses - My research