Cnut237
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November 19, 2020, 10:53:41 AM |
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I think it's kind of cool that people who are presumably smart with money (and have tons of it) are investing in it. That's definitely a big step toward mainstream acceptance of bitcoin
Definitely, and the more this happens, the more bitcoin is seen as a sensible diversification option, and the more ultra-rich people buy in. There is obviously the price manipulation element, too. A billionaire announcing investment in anything tends to swing the price upwards, as they would desire.
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slapper
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November 19, 2020, 11:14:55 AM |
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What about the richest Mexican and also the 5 richest man in the world Carlos Slim, is he perhaps interested in Bitcoin? Ricardo Salinas Pliego net worth is $11.7 billion, so 10% invested in BTC represents a really decent amount, and the trend from North America seems to be slowly spreading south as well. If billionaires continue to invest only 5-10% of their wealth in BTC, it will significantly affect the price (positively), and also the market, which will find it increasingly difficult to meet their needs. 10% of his money does not mean that $1.7 billion. The money of billionaire usually come from stocks, their companies, and other valuable assets. So we cant not know exactly how much money he invests in bitcoin I do not like the idea that billionaires continue to invest their funds in bitcoin. An individual can not influence the price of bitcoin. But the group of a billionaire can easily make the price of bitcoin volatile roughly. The less number from this group involves, the less manipulated bitcoin will be
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shoreno
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November 19, 2020, 11:22:14 AM |
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I think it's kind of cool that people who are presumably smart with money (and have tons of it) are investing in it. That's definitely a big step toward mainstream acceptance of bitcoin
Definitely, and the more this happens, the more bitcoin is seen as a sensible diversification option, and the more ultra-rich people buy in. There is obviously the price manipulation element, too. A billionaire announcing investment in anything tends to swing the price upwards, as they would desire. it can also be a main thing for investment or as a currency and not just an option if you are a fan of decentralization and everything on how bitcoin works . investors are looking for more assets to add in thier collection and they found out btc , they diversify some of thier funds to it . there no date on when the buy in occur , we arent sure if this can be link on the massive pump that happen to btc . announcing this cant move the price if theres no action applied along
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CyberKuro
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November 19, 2020, 11:49:54 AM |
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There are two lessons here: First, land, buildings, etc., are fixed/illiquid assets, and it usually has the largest proportion of one's wealth. Second, diversification is good, and Bitcoin is a form of money. So we can use Bitcoin to construct a portfolio of liquid assets (money or near money). My guess, it was his "gambling money" since the amount is less than 10% of his net worth. But, it is still good for adoption though. Yeah, 10% of liquid portfolio isn't that much to lose, doesn't mean he invest with intentions to lose his money, we can assume, he just testing the deep of the water. While make it sound through media makes other investors consider bitcoin as a diversification for a short period or long-term. invest in bitcoin at the current price isn't too late as bitcoin seems to have a great chance to at least reach a new ath over $20k in a few weeks and $50k within months.
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pilosopotasyo
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November 19, 2020, 12:47:16 PM |
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I always feel like there are already lots of billionaires that are investing their money in Bitcoin but they are not being open about it, they just want to keep it a secret, and mind their business. It’s not everyone that wants to be letting the world know about every move they make, some people prefer privacy in most of the things they do.
That may be true a lot of them are quietly investing in Cryptocurrency, because who would want to explore an investment that has already yield 1000% to many investors, some millionaires will and some don't want to, maybe they are still in doubt because of it's very high volatility, but imagine if many billionaires are going to come in that will really pump the price.
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reliable
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November 19, 2020, 12:59:40 PM |
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After 2017 billionaires would have realized that they can make good money in bitcoin and those who had understood its potential to grow in future after that downfall would have invested heavily. And today those who all will look back will be proud of their decision because they would have made a huge money from it easily if had purchased few btc even during 5000$ price as well. Going forward seeing it rose back to almost same levels we would have more such who stayed away to start investing quietly in it.
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amishmanish
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November 19, 2020, 01:04:26 PM |
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Nobody understands it better than these billionaire's that their wealth is essentially numbers in the bank. Even just number on the market index.
You often hear statements like "Billions wiped out in wealth" whenever the shares of major companies tank. They are the ones who understand this best and are thus probably the easiest to convince to "buy" stocks into the world's biggest decentralized corporation that bitcoin is.
The only problem is that they would want to understand what the "company" does. It is a little hard any casual observer to arrive at the conclusion that bitcoin is the only real alternative to "Big Finance".
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coin-investor
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November 19, 2020, 01:52:40 PM |
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After 2017 billionaires would have realized that they can make good money in bitcoin and those who had understood its potential to grow in future after that downfall would have invested heavily. And today those who all will look back will be proud of their decision because they would have made a huge money from it easily if had purchased few btc even during 5000$ price as well. Going forward seeing it rose back to almost same levels we would have more such who stayed away to start investing quietly in it.
These billionaires have financial advisers that advise these billionaires where to invest and how to invest, I'm sure they already have Bitcoin and other Cryptocurrency on their radar it's just that this particular billionaire announces that he invested 10% of his portfolio in Cryptocurrency, maybe other billionaires have invested more than 10%, Bitcoin is still for the record the best asset to buy in the last ten years and will continue to be.
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jaysabi
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November 19, 2020, 03:37:25 PM |
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One advantage of those who are rich is the domino effect which is likely to occur when they declare hot things. I really believe that Pliego's statement will make many other rich people start to be interested in Bitcoin. it is very likely that Bitcoin will pass $ 20k before the end of the year, this is really beautiful news..
I'll take the under on that. These threads are nothing more than people wishing very hard for things that are not likely. If by chance bitcoin hits $20k before the end of the year, I predict you'll have another sharp fall like last time, because just like last time, this is nothing more than momentum chasing and people FOMOing into bitcoin. This type of price appreciation is not sustainable, and once confidence falters, it falls a lot faster than it rises. (That's not a bitcoin thing specifically, all assets follow this same rule.)
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aioc
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November 19, 2020, 04:29:43 PM |
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One advantage of those who are rich is the domino effect which is likely to occur when they declare hot things. I really believe that Pliego's statement will make many other rich people start to be interested in Bitcoin. it is very likely that Bitcoin will pass $ 20k before the end of the year, this is really beautiful news..
People will always follow those people who are in power, they will imitate and emulate whales, big people and billionaires, it's more like a domino effect so if one billionaire or group of whales or highly reputable personality announced about his investment in the Cryptocurrency expect something dramatic to happen in the market, and more so if these are group of whales or rich people.
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deisik
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November 19, 2020, 04:40:23 PM Last edit: November 19, 2020, 06:31:35 PM by deisik |
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If by chance bitcoin hits $20k before the end of the year, I predict you'll have another sharp fall like last time, because just like last time, this is nothing more than momentum chasing and people FOMOing into bitcoin. This type of price appreciation is not sustainable, and once confidence falters, it falls a lot faster than it rises. (That's not a bitcoin thing specifically, all assets follow this same rule This time may be different from the last time If we assume that the 2017 highs happened because of Bitfinex relentlessly pumping Bitcoin via unbridled issuance of new tethers (we don't know that for certain but still), today's prices have very little in common with 2017 prices, apart from being nominally the same In other words, it is entirely different forces that are at work these days and pushing the market up now. Consequently, we can't reasonably expect the price to crash after reaching 20k because it crashed in 2017. It is not impossible per se, of course, but if it will, it will crash for other reasons
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justdimin
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November 19, 2020, 06:46:54 PM |
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I always feel like there are already lots of billionaires that are investing their money in Bitcoin but they are not being open about it, they just want to keep it a secret, and mind their business. It’s not everyone that wants to be letting the world know about every move they make, some people prefer privacy in most of the things they do.
That may be true a lot of them are quietly investing in Cryptocurrency, because who would want to explore an investment that has already yield 1000% to many investors, some millionaires will and some don't want to, maybe they are still in doubt because of it's very high volatility, but imagine if many billionaires are going to come in that will really pump the price. Indeed and lots of investors will not make it public so we never know how many and how big investors have now started to invest in the bitcoins. One negative aspect of single company holding too much coins is that they can manipulate the market by selling and buying because they have huge capital but I do not think that is ever going to happen and if one investor plays the pump and dump game there are always bigger investors who will have the capital to balance it out. I would love to have a list of all the big names who are now investing with bitcoins and if possible how much they have invested because it gives a clear idea how popular bitcoins are and often people call it as a bubble they will shut up once they see the list.
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el kaka22
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November 19, 2020, 06:47:10 PM |
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I think in the real interview he said "crypto" and not "bitcoin" or maybe I am remembering wrong, if that is the case he is involved even further. Plus, when one guy gets involved it is always nice but never really as big as a big company, just grayscale and microstrategy combined invested a ton more than this guy did, of course there are very rich people in the world but when it is just one person, even if Jeff Bezos ends up putting 10% of his liquid assets it is not going to change too much aside from maybe the news of it.
Jeff Bezos is the richest man in the world and the reason for it is his assets, having 10% of his "liquid" assets wouldn't really be more than a billion dollars, it would be probably few hundred million at the very best case which is why I think it is important we acknowledge these people have more news worthy and not financially worthy for our market.
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Mahanton
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November 19, 2020, 06:57:31 PM |
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One advantage of those who are rich is the domino effect which is likely to occur when they declare hot things. I really believe that Pliego's statement will make many other rich people start to be interested in Bitcoin. it is very likely that Bitcoin will pass $ 20k before the end of the year, this is really beautiful news..
I'll take the under on that. These threads are nothing more than people wishing very hard for things that are not likely. If by chance bitcoin hits $20k before the end of the year, I predict you'll have another sharp fall like last time, because just like last time, this is nothing more than momentum chasing and people FOMOing into bitcoin. This type of price appreciation is not sustainable, and once confidence falters, it falls a lot faster than it rises. (That's not a bitcoin thing specifically, all assets follow this same rule.) You got some point but we can say that this current price pump isnt really something that hasnt any supports that are waiting below not unlike before that price rise doesnt really have significant reason for such rise but on this current time then we arent blind on what are the adoption news that we do saw on the recent years pass by.
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usekevin
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November 19, 2020, 07:16:29 PM |
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After 2017 billionaires would have realized that they can make good money in bitcoin and those who had understood its potential to grow in future after that downfall would have invested heavily. And today those who all will look back will be proud of their decision because they would have made a huge money from it easily if had purchased few btc even during 5000$ price as well. Going forward seeing it rose back to almost same levels we would have more such who stayed away to start investing quietly in it.
Billionaires are the major source to change the market to any form.They will act as a whale and create a huge pump and dump in bitcoin price.Because the price of bitcoin is depend on the demand and they will create more demand easily and create a huge pump in bitcoin price.They also sold the huge holding and can also create huge dump.
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Fortify
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November 19, 2020, 07:21:34 PM |
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This is probably more about avoiding tax and keeping funds out of the hands of the Mexican government, but still great news for anyone who is holding it right now. It seems like a lot of billionaires are finding it as an acceptable method to store their money which will in turn draw more of them in. It seems like Bitcoin is on the path to becoming a digital version of gold. You just have to remember though, that this is only 10% of his money - this guy probably has so much free cash flowing around that this is a drop in the ocean, when you reach those level of assets he will have millions pouring in via company dividends every single day and it is unlikely he will be able to even spend that money fast enough.
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SirLancelot
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November 19, 2020, 08:08:30 PM |
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One advantage of those who are rich is the domino effect which is likely to occur when they declare hot things. I really believe that Pliego's statement will make many other rich people start to be interested in Bitcoin. it is very likely that Bitcoin will pass $ 20k before the end of the year, this is really beautiful news..
People will always follow those people who are in power, they will imitate and emulate whales, big people and billionaires, it's more like a domino effect so if one billionaire or group of whales or highly reputable personality announced about his investment in the Cryptocurrency expect something dramatic to happen in the market, and more so if these are group of whales or rich people. You really think these large scale investors are so easy to fool and the domino effect will take place? At least I think that they are too smart and one cannot influence other large scale investors because they all have their own way of thinking and timing for investment. Some prefer to invest when the market is shallow like it was a few years ago while some want the market to get deep and then invest. Yeah these news can inspire a few small investors since they follow their idols. I hope more numbers of investors come rather than more amount because in past investors got the power to swing the market and it becomes too easy to do that once small number of people hold high number of coins but if more investors hold smaller amounts it is always better for the liquidity and they cannot swing the market at their will.
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Darkoth89
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November 19, 2020, 09:16:34 PM |
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I think in the real interview he said "crypto" and not "bitcoin" or maybe I am remembering wrong, if that is the case he is involved even further. Plus, when one guy gets involved it is always nice but never really as big as a big company, just grayscale and microstrategy combined invested a ton more than this guy did, of course there are very rich people in the world but when it is just one person, even if Jeff Bezos ends up putting 10% of his liquid assets it is not going to change too much aside from maybe the news of it.
No, he explicitly mentioned Bitcoin and not Cryptos in general. At least in this tweet here: " Bitcoin protects the citizen from government expropriation. Many people ask me if I have bitcoins, YES. I have 10% of my liquid portfolio invested in" (I used a translator so correct me if I am wrong). Source: https://twitter.com/RicardoBSalinas/status/1328850136290775041So he's not only saying that he is invested in BTC but he is seeing Bitcoin as a way to protect himself against inflation and devaluation of (fiat) money. In another tweet he's saying that fiat / paper money is worth nothing and that's why it's good to diversify the investment portfolio. So he's sharing quite the same ideas and reasons for having BTC with a lot of us here.
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mu_enrico
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November 19, 2020, 09:23:38 PM |
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In most cases of the people in the top richest the largest portion of their wealth is the shares in the company they founded or bought.
You're right! VHNWIs have way more financial assets than real assets, especially the founders of big companies. Let's say 50% (conservative measure) of Ricardo's assets are financial assets. The 10% of that pie is like 5% of his net worth. Better than betting for DJ Trump. This is probably more about avoiding tax and keeping funds out of the hands of the Mexican government,
Not sure about that. A billionaire his caliber would be better off comply with the government. Or better, bribe influence the government.
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24Kt
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November 19, 2020, 09:32:06 PM |
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I think in the real interview he said "crypto" and not "bitcoin" or maybe I am remembering wrong, if that is the case he is involved even further. Plus, when one guy gets involved it is always nice but never really as big as a big company, just grayscale and microstrategy combined invested a ton more than this guy did, of course there are very rich people in the world but when it is just one person, even if Jeff Bezos ends up putting 10% of his liquid assets it is not going to change too much aside from maybe the news of it.
No, he explicitly mentioned Bitcoin and not Cryptos in general. At least in this tweet here: " Bitcoin protects the citizen from government expropriation. Many people ask me if I have bitcoins, YES. I have 10% of my liquid portfolio invested in" (I used a translator so correct me if I am wrong). - Source: https://twitter.com/RicardoBSalinas/status/1328850136290775041So he's not only saying that he is invested in BTC but he is seeing Bitcoin as a way to protect himself against inflation and devaluation of (fiat) money. In another tweet he's saying that fiat / paper money is worth nothing and that's why it's good to diversify the investment portfolio. So he's sharing quite the same ideas and reasons for having BTC with a lot of us here. And since he publicly announced about his btc investments, now the government have the reasons to look into crypto and how they can tax those crypto users. ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) Because right now, most governments don't know how to create legislations towards crypto because they have no full grasp on how it works.
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