Billionaire wants to buy 25% of the bitcoin supply

[pereira4]

What's fun with these forbes thingies is that eventually some oil towelhead dude will eventually buy a massive chunk of Bitcoin because he has heard on the news that this or that. And so he does, and because he is a computer illiterate, he ends up forever losing the private keys, which means those which aren't computer illiterate get that nice pump from the supply shrinkage, and so it goes.

[Barbut]

What's fun with these forbes thingies is that eventually some oil towelhead dude will eventually buy a massive chunk of Bitcoin because he has heard on the news that this or that. And so he does, and because he is a computer illiterate, he ends up forever losing the private keys, which means those which aren't computer illiterate get that nice pump from the supply shrinkage, and so it goes.

That oil dude has a team behind him, that team will secure private keys, I don`t worry about them. What`s fun for me is that these oil dudes can afford to buy a lot of any coins, not just bitcoin, with money they have they can control markets, to move the price in the way they want.
But as time is passing it will be harder and harder to get BTC. I think that works for some other coins too.

[Oceat]

There is no better chance than now if they want to buy up a quarter of the bitcoin supply. The price went down for a short while but there is no way it will stay that way for long, too much demand from other whales will bounce it back up again

Just think if billionaire buy such huge money ty then from 11k market will swing above 20- k easily as the supply may not be available that easily if bulk qty is being purchased . So investing and holding the coins of btc is always recommended .

When it comes to purchasing capability or power then these billionaires can do such thing which this news is indeed a good

one yet we know that price can swing up positively yet the demand had increased but somehow it do have risk of manipulation.
Imagine owning 25% of the current supply will just really make an easy pump and dump afterwards.

Don't worry they can't buy 25% of the current supply in one go it will take a lot of time to process that and it might hype the price of Bitcoin.
We can call them whales already if they do have that kind of Bitcoin in them if they bought the 25% current supply.
Imagine how much money is that they were holding and since they were a billionaire it is too easy for them to purchase whatever they like.

[Yamifoud]

What's fun with these forbes thingies is that eventually some oil towelhead dude will eventually buy a massive chunk of Bitcoin because he has heard on the news that this or that. And so he does, and because he is a computer illiterate, he ends up forever losing the private keys, which means those which aren't computer illiterate get that nice pump from the supply shrinkage, and so it goes.

That oil dude has a team behind him, that team will secure private keys, I don`t worry about them. What`s fun for me is that these oil dudes can afford to buy a lot of any coins, not just bitcoin, with money they have they can control markets, to move the price in the way they want.
But as time is passing it will be harder and harder to get BTC. I think that works for some other coins too.

Let them invest in crypto and let see how they could generate profit more than they will get from an oil refinery. Let those billionaires become a part of crypto space and give them chances to feel how the market moves. Yes, they have a lot of money and can certainly influence the market but how they play with it if they don't have knowledge in crypto?

[Omnipotent1]

I wonder how that would affect things. The average person would not like some dude owning 25% of the supply.

[michellee]

I wonder how that would affect things. The average person would not like some dude owning 25% of the supply.

That will need much money to buy 25% of the bitcoin supply and I think that will affect the price but I don't know if the price will increase or decrease. I think if that is true, maybe some big whales want to prevent the price not go down too deep and they will hold the price by blocking the order with placing a large amount of bitcoin. But we know that everything can be possible for the market and we cannot predict what will happen later.

[stadus]

I wonder how that would affect things. The average person would not like some dude owning 25% of the supply.

Even the rich people who let's say can afford to buy, but I doubt they will risk their money for that big supply in bitcoin knowing that's a risky investment.

[Lucius]

As others say before, if someone want to buy 25% of all bitcoins, it would mean that it wants to buy more than 5 million bitcoins, and main problem with that plan is that there is no so many available bitcoins on crypto market. They would also need to do this via OTC, but even with such buying they will probably increase price of bitcoin even before they could get first million.

Safest way is to buy little by little, and wait for big correction when price is hit bottom - in this way they can save big money and get more coins at the same time. I absolutely do not doubt that those who have a lot of money will not find the best ways to invest in bitcoin if they really want that.

Maybe someone thinks that the richest people in the world are Gates, Buffett or Bezos - but they are just poor for real wealthy people, they accumulate their wealth for centuries and they can buy whatever they want, bitcoin market cap is dust for them.

[Kemarit]

I wonder how that would affect things. The average person would not like some dude owning 25% of the supply.

Even the rich people who let's say can afford to buy, but I doubt they will risk their money for that big supply in bitcoin knowing that's a risky investment.

On the contrary some average dude would love to see something like that to happen, why? Because he knows that the price will pick up, his portfolio grows and everyone is happy. On the downside, he can be a big player, a whale than can manipulated the price in his favor. If might not be that easy to do, but having such enormous amount of Bitcoin is definitely a plus for him.

Those whales has deep pocket, and I'm sure they own their money through investments so they definitely will factor in the risk, if ever they wanted to join the fun in this market.

[Dreamchaser21]

I wonder how that would affect things. The average person would not like some dude owning 25% of the supply.

Of course we want to prevent this to happen but they are billionaires they can do this easily without even thinking for the small investors. We should be happy if they adopt bitcoin but hopefully not to manipulate the bitcoin movements which i think is going to happen if ever.

[Cherylstar86]

That's awesome if that guy could purchase bitcoin to that percentage, and it costs a lot of money. He should be considered as one of biggest whales who could help btc price to soar back until $20k will be reached. Let's see what will be the results of this in the long run, and hope for btc to gain faster price increase.

[joshy23]

That's awesome if that guy could purchase bitcoin to that percentage, and it costs a lot of money. He should be considered as one of biggest whales who could help btc price to soar back until $20k will be reached. Let's see what will be the results of this in the long run, and hope for btc to gain faster price increase.

It's a good sign also if  he will hold that amount of btc and keep buying for more, will only means that the price will continue to soar high and we will
be expecting for a much better / higher value in the long run, lets hope for the best with our invested money.

[Arkham Knight]

I wish not, I mean not now. Those billionaires should be the last people to buy bitcoin if ever they had the riches to have the 25% of its supply. Just imagine guys if they already have bought  that supply on this year and someone is very good at manipulation and make them panic then it's a massive dump where $1k is not even the bottom of it. They should help us reaching $1m after btc reached $100k or $500k.

[marcbitcoins]

I know these dudes are definitely rich, that saying "rich" even undermines how much wealth they actually have, but I don't think they can even buy 25% of the total supply. Even if they buy it all through OTC through multiple entities, it's going to pump up the price too high I think. Correct me if I'm wrong.

Lets say that it is really difficult to buy these 25% total supply of Bitcoin but the most important thing is that they will buy and support Bitcoin that any small percentage of buying will already a big support to make the Bitcoin market to become more healthy and stable once again as for sure these people will hold their Bitcoin assets for long term investment.

[leea-1334]

On the contrary some average dude would love to see something like that to happen, why? Because he knows that the price will pick up, his portfolio grows and everyone is happy. On the downside, he can be a big player, a whale than can manipulated the price in his favor. If might not be that easy to do, but having such enormous amount of Bitcoin is definitely a plus for him.

Those whales has deep pocket, and I'm sure they own their money through investments so they definitely will factor in the risk, if ever they wanted to join the fun in this market.

Yes, I would love it too,,, because so what if someone holds 25%? Does he want to dump it later on? No problem. when he dumps people will buy,,, the price will crash but it will pick up again for sure. And if he holds forever, then we are more scarce, and even 1 satoshi is worth something who knows?

Billionaires by the way if they spend $1 billion only they can buy 100,000 BTC which is not even 1% of supply?

[iMark]

What could you gain from having 25% of all bitcoins? I mean I think this is totally PR move and marketing purposes by the company to say "we are so big that we have customers who are filthy rich and wants to buy 25% of all bitcoins so come work with us" and so forth however they are missing the point that even if you are super rich, like Jeff Bezos type of rich but all liquid, you have 100 billion dollars all on your bank account, it would still not make any sense to get 25% of all bitcoins, how would you use it, what could it be used for? How could anyone gain any advantage for having that much bitcoin? You are literally ruining the market all by yourself which means you are not getting any richer and a bad investment, so the whole idea is moronic.

"What could you gain from having 25% of all bitcoins?"

Dumbest. Question. Ever. Asked.

25% percent means that person must buy 5000 btc, equivalent to $650,000,000 and where you can buy that much bitcoin ?
while bitcoin has been spread to millions of users and wallets, yeah that is a dumbest question and will never happen