Billionaire wants to buy 25% of the bitcoin supply

[bbc.reporter]

Bullish news, however, I do not know where Dadiani can find the sellers to buy 25% of the bitcoin supply for her billionaire client. Good luck.

Also, what would the billionaire do to 25% of the bitcoin supply? Use it to help launder his friends billions and make more billions for himself hehehe?



Far from the murky, impersonal world of online bitcoin and cryptocurrency exchanges, billionaires who want to buy bitcoin do it through an office in west London's upmarket Mayfair—and the relatively new service is becoming increasingly popular amongst the super rich with an interest in crypto.

The Dadiani Syndicate, which styles itself as an investment "platform for ... maximizing your digital holdings," and matches big bitcoin buyers and sellers in a way similar to buyers and sellers of fine art, claims to have helped clients who want to acquire "up to 25% of the bitcoin market."

"One of our clients approached us and said they were interested in acquiring 25% of all bitcoin currently available," Dadiani said. "There are a number of entities who want to dominate the market."

Dadiani claims to have built up a consortium of sellers from around the world who have "colossal" amounts of bitcoin or who want to buy significant amounts and she is confident they have all been properly vetted against money laundering regulations.

"We don't deal with people who are not clients of reputable banks," said Dadiani. "We are market makers, coordinators of these trades. Once you involve banks and institutions, it's up to them to make sure their clients are abiding by regulations."

Read in full https://www.forbes.com/sites/billybambrough/2019/05/30/how-billionaires-are-buying-up-bitcoin/#2d0a3ddb208c

[exstasie]

"One of our clients approached us and said they were interested in acquiring 25% of all bitcoin currently available," Dadiani said. "There are a number of entities who want to dominate the market."

...

Dadiani claims to have built up a consortium of sellers from around the world who have "colossal" amounts of bitcoin or who want to buy significant amounts and she is confident they have all been properly vetted against money laundering regulations.

...

The Dadiani Syndicate is currently in the midst of its fourth trade

Something doesn't quite add up here. Sounds like someone bought a PR spot on Forbes. Color me skeptical!

So I'll be taking this story with a grain of salt. The theme probably rings true though. I imagine more and more of the super rich are getting interested in Bitcoin now. It's becoming hard to ignore.

[mk4]

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.

[pooya87]

billionaires and millionaires have been "parking" their money in bitcoin for a long time now. this is nothing new. but saying some billionaire wants to buy $36,550,000,000 worth of bitcoin in one go is just dumb hyped up news if you ask me. such amounts can only be accumulated over many years of buying and most of these types of people sometimes go to miners directly to acquire bitcoin (send block reward to their addresses) which means it takes longer even.

[CryptoBry]

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.

I think you are right. These people have the money and the connections that they can use to buy bitcoin presumably as an investment to hold for some time and make big profits -- just like the many small speculators swimming in the bitcoin pool. They can wish to buy 25% of the bitcoin supply but how they gonna do that remains to be seen. But what if they can...how will it affect bitcoin and its growth trajectory?

[gabbie2010]

 Arabs billionaires are capable of buying a significant huge amount of bitcoin because they are mostly oil moguls but probably not up to 25% however  my consign is after successfully buying the bitcoin they might become another 'whale' in the cryptocurrency market thus manipulating the price using their influences and  financial status which is a big problem confronting cryptosphere.

[sunsilk]

I thought this is just a fake news because the article that I've saw came from unknown website but it's forbes that published it, so it can be somehow validated and true.

how will it affect bitcoin

Massive pump will occur.

[bitbunnny]

Arabs billionaires are capable of buying a significant huge amount of bitcoin because they are mostly oil moguls but probably not up to 25% however  my consign is after successfully buying the bitcoin they might become another 'whale' in the cryptocurrency market thus manipulating the price using their influences and  financial status which is a big problem confronting cryptosphere.

Yes, billionaires have the possibility to buy huge amount of Bitcoin but so far no one has done it, does it? And honestly I don't think they will. 25% is a lot but I don't think they have true interest for such investment and that is not going to happen in reality.

[Jet Cash]

I've always thought that the vulnerability of Bitcoin was in the accumulation of large long term holdings, rather than 51% attacks. If the bankers held massive quantities of Bitcoin, they could maintain the extreme volatility of the market, and make it unusable as a currency.

The good news is that this could provide a way for sensible traders to maintain an income from their speculation.

[YuginKadoya]

If there will be someone that will offer his Bitcoin if he can earn a lot with the impending days to come than to exchange it to fiat right now, Well I guess this is a wrong move for those millionaires or billionaire that would want to buy 25% of bitcoin and not just try just a little bit portion of it, Well I guess this would call for a celebration because apparently there are pumps that can happen so keep on Hodling, Well if this news is legit of real.

[1Referee]

I've always thought that the vulnerability of Bitcoin was in the accumulation of large long term holdings, rather than 51% attacks. If the bankers held massive quantities of Bitcoin, they could maintain the extreme volatility of the market, and make it unusable as a currency.

I'm quite sure that most of these high level legacy investors are still somewhat afraid of the satoshi coins, which is a good thing, because it prevents them from going balls deep and potentially have enough incentive to steer development to a certain direction. Satoshi hasn't only done us a favor by leaving, but his coins also help keeping the bad institutions at a more safe distance.

As for the article, it really wouldn't surprise me if it was meant as a joke to point out how bullish that 'investor' is on Bitcoin. Forbes is a champion in giving articles a little twist.

[Gaff]

Arabs billionaires are capable of buying a significant huge amount of bitcoin because they are mostly oil moguls but probably not up to 25% however  my consign is after successfully buying the bitcoin they might become another 'whale' in the cryptocurrency market thus manipulating the price using their influences and  financial status which is a big problem confronting cryptosphere.

That really made the situation very much unpredictable right now, and even though we've encountered good market temporarily it doesn't mean we're going to loss grip on crypto. Always hold on tight and keep your holdings at safer grounds in order to achieve better momentum, before those millionaires could take the biggest potential profit which you're going to acquire. I think if those billionaires not just arab, but that also includes prominent personalities like of western counties were all together buy that 25% of btc supply at the same time; then it will be the greatest history on bitcoin's successful market breakthrough.

[omonuyak]

Maybe this will be the reason why bitcoin is going to get another bull run next month. I see this news as a bullish news and I think billions of dollars are going to flow into the market. It is then good to buy now so you can sell when the billionaire start to pump dollars into the market.

[fabiorem]

If such billionaires are the guys from the picture, I can guess they would use bitcoin to leverage oil prices.

[siggy_77]

I think it comes down to how you define "available bitcoin supply" ...

if you define this as all 21 million BTC.. then.. nope, not gonna happen...
if you define this as all BTC currently mined.. then again, nope...

if you define this as "total sum of all BTC currently on exchanges" .. then.. well.. a consortium of billionaires could theoretically have the ready funds to snatch that up...  I highly doubt there are more than a million BTC on exchanges at any one time.  The majority of coins being either not yet mined, lost, or in the hands of HODLers.

Same thing if you change the definition to coins available on various OTC platforms...

OR.. this could be a total marketing piece and they are just talking crap.

[gantez]

Well if it is the percentage of the amount already mined and available for sell, they can easily get down to the exchange and scoop the ones available for sell, I'm not releasing my small fraction because this news is likely going to help drive more bull.

[colombuszka]

Interesting, but may be fake news as articles about Russia plans to buy a shtload of btc.  Will see, but should be good for the market

[LimLims]

First of all dude, they are Billionaires.
They have a lot of money to buy these holy coins.
 And it will also lead to the rise of the coin.
As it will help to increase the trading volume.
For which Bitcoin may touch more than 20k usd soon.
Nevertheless, let's hope for the best.

[ethereumhunter]

I only think that they will hold it for another investment that will give more money to them because rich people wants to spread their money for another business type which can help them to make money. But the truth is, we don't know what they will do with that bitcoin and they can do whatever they want because they are rich people who have a lot of money.

[mk4]

I've always thought that the vulnerability of Bitcoin was in the accumulation of large long term holdings, rather than 51% attacks. If the bankers held massive quantities of Bitcoin, they could maintain the extreme volatility of the market, and make it unusable as a currency.

Good point. Though I'm not sure, do you think that there's a good chance that bankers would hugely accumulate a hugely speculative and very experimental asset, that's not even guaranteed to succeed in the long term? Personally, I don't think so, but there sure is a small chance; especially now that bitcoin is continuing to gain reputation.