Can bitcoin be hijacked by world billionaires???

[Issa56]

From the little experience am having I believe bitcoin is already being messed up by billionaires and I believe they are just being with matter of time bitcoin will be hijacked permanently which I believe is a really bad idea because the price of any coin will be controlled by them and is not really a good Idea currently the rate at which bitcoin price pump and dump is really bad and it won't really help bitcoin and will also have negative impact on altcoins.

[Newlifebtc]

Nah. It is not posible. Elon can hold a large number of bitcoin but he cant control it. Besides, bitcoin transactions are transparency and people will eventually notice when there is a wallet holding a lot of bitcoin. The price will suddenly drop due to that reason

How can one know who is holding more bitcoin and even if it is known is there any binding law against it ,as to report the account or aometgy to be done to reduce the bitcoin a Walker is holding??

[FIFA worldcup]

It is obvious that world billionaires are indicating interest into bitcoin of late ,for instance Elon Musk twitted that you can now purchase his Tesla cars with bitcoin, is he trying to hod bitcoins so it will be scarce then he control and dictate the price of the market or is it for the good of bitcoin that we have been expecting ,what do you think

If the world billionaire's want to accumulate bitcoin and for this they buy bitcoin, then this is nothing wrong in that. They have the money and they can buy anything they think have greater potential. You cannot call this as hijacking bitcoin. Fiat money can be hijacked by printing and distributing unfairly but for bitcoin the process is simple. You need to buy it in order to become a big whale. 

[MFahad]

It is obvious that world billionaires are indicating interest into bitcoin of late ,for instance Elon Musk twitted that you can now purchase his Tesla cars with bitcoin, is he trying to hod bitcoins so it will be scarce then he control and dictate the price of the market or is it for the good of bitcoin that we have been expecting ,what do you think

If the world billionaire's want to accumulate bitcoin and for this they buy bitcoin, then this is nothing wrong in that. They have the money and they can buy anything they think have greater potential. You cannot call this as hijacking bitcoin. Fiat money can be hijacked by printing and distributing unfairly but for bitcoin the process is simple. You need to buy it in order to become a big whale. 

But then those who have more fiat and more dollars can accumulate more bitcoin as compared to the middle or lower income class person ?

Will this not get unfair advantage to the institutes and rich people to gather more bitcoin which is already limited in supply.

[Altcoinsintel]

Wasn't billionaires already invested since 2011? It doesn't mean anything, just that the more demand the higher the price will go. For most today price of Bitcoin is making it unavailable to buy one whole Bitcoin but you can buy lower amounts, and the higher the price goes there will be more decimals.
It doesn't mean Bitcoin will be hijacked, but since the inception and the realization of a few uknown features of Bitcoin, it became evident that nobody would use it as payments method, but instead as an asset that resembles gold. The high fees and the inability to scale as payments network is clearly giving the impression that it won't be used this way. It is already used as store of value, or named else "digital gold" because it shares similarities with gold. Since gold is an asset many billionaires have invested in, the same is now happening with Bitcoin.
Those that invested early and held part of their investment, or the early miners that didn't sell everything, they had that in mind since the very early days. There are posts about Bitcoin having potential to reach a million dollars even from 2011 when price was just a few dollars.

[Anonylz]

Well we can't deny the fact that institutions with money are investing heavily on btc lately and by extention means they can have a large percentage of the supply which also translate to having the ability to control the market with amount they hold, I guess technically you can say they could control the market but this institutions understand business and understand what is good for business, I don't think they will deliberately want to hurt the market.

[bryant.coleman]

Those who understand the basics of Bitcoin will not take any of this FUD seriously. First of all, Bitcoin is a decentralized asset and it is designed to stay that way. Billionaires can invest in Bitcoin, but they won't be able to manipulate its exchange rate or other aspects. And perhaps that is why they are busy manipulating the shitcoins such as Ripple and Dogecoin. Any thoughts on why the market share of these shitcoins went up so much recently? IMO, that is because the whales are manipulating their prices and the supply. BTC prices are suppressed, because such manipulation is not possible with Bitcoin.

[yazher]

It is obvious that world billionaires are indicating interest into bitcoin of late,for instance Elon Musk twitted that you can now purchase his Tesla cars with bitcoin, is he trying to hod bitcoins so it will be scarce then he control and dictate the price of the market or is it for the good of bitcoin that we have been expecting,what do you think

They cannot do that by simply doing such things because controlling its price, takes a lot of work than you imagine. If you think that you don't understand, you don't need to because it's so complicated. As you can see, if there was an organization that has lots of money in their storage, they've already done what you think but from the start of BTC's revolution, we find that in many cases the support to get the price to increase are from normal people like us when we flock to buy BTC in bulk.

[Viscore]

It is obvious that world billionaires are indicating interest into bitcoin of late ,for instance Elon Musk twitted that you can now purchase his Tesla cars with bitcoin, is he trying to hod bitcoins so it will be scarce then he control and dictate the price of the market or is it for the good of bitcoin that we have been expecting ,what do you think

I supposed to say thank you for having them, actually.
These people are not going to hijack Bitcoin but instead, they are enjoying the market and feels that digital currency means a lot this time, sometimes we think a sort of price manipulation. That could be the truth but we are also benefiting from the hypes they do and make a profit from it.

But what I don't like about Elon Musk, he was so smart. He comes to crypto by first shilling Dogecoin, then next to Bitcoin, and finally, promoting to Tesla cars has come. That is more than about manipulation but this how Elon run's his business, his company in the crypto community.

[bounceback]

It is obvious that world billionaires are indicating interest into bitcoin of late ,for instance Elon Musk twitted that you can now purchase his Tesla cars with bitcoin, is he trying to hod bitcoins so it will be scarce then he control and dictate the price of the market or is it for the good of bitcoin that we have been expecting ,what do you think

In my opinion, no one can manipulate the price of bitcoin, but if you play the market price it could happen because they billionaires have a lot of capital to do it because basically the market price depends on supply and demand so there are no individual elements in bitcoin.

[wiss19]

It is obvious that world billionaires are indicating interest into bitcoin of late ,for instance Elon Musk twitted that you can now purchase his Tesla cars with bitcoin, is he trying to hod bitcoins so it will be scarce then he control and dictate the price of the market or is it for the good of bitcoin that we have been expecting ,what do you think

Billionaires like Elon Musk and big companies like Tesla have enough money to buy bitcoin in bulk, in amounts that are up to billions of dollars, but I don’t really think any one of them are ready to hold for a very long time.

All these investments that they are making are all for profit and I don’t think there is any other plan apart from that. That is why you have seen Tesla sell a percentage of their Bitcoin assets. If they should buy up and have no one to sell it to, then it’s of no use to them. They will always want to invest in something that will grow as a company, and for them to grow, capital is one of the necessary things that they need.

[TribalBob]

I have in mind why billionaires should hijack Bitcoin? Is it for their own benefit or what?
I have noticed that ELON is doing something beneficial for all BTC owners because it can provide huge benefits for everyone and for himself

[Miaallen]

Who do you think are responsible for rise and fall in the prices of cryptocurrency generally? The activities of the whales of course. And who are the whales in the Cryptocurrency world of today? There is no doubt that the whales are made up of billionaires whose a single buy or sale effect the market. I don't see any other hijacking that is beyond that. They determine what becomes of the price at any time they please.

[SimpleMan]

It is obvious that world billionaires are indicating interest into bitcoin of late ,for instance Elon Musk twitted that you can now purchase his Tesla cars with bitcoin, is he trying to hod bitcoins so it will be scarce then he control and dictate the price of the market or is it for the good of bitcoin that we have been expecting ,what do you think

Billionaires like Elon Musk and big companies like Tesla have enough money to buy bitcoin in bulk, in amounts that are up to billions of dollars, but I don’t really think any one of them are ready to hold for a very long time.

All these investments that they are making are all for profit and I don’t think there is any other plan apart from that. That is why you have seen Tesla sell a percentage of their Bitcoin assets. If they should buy up and have no one to sell it to, then it’s of no use to them. They will always want to invest in something that will grow as a company, and for them to grow, capital is one of the necessary things that they need.

Also what does hijacking even mean in this context? Bitcoin is huge right now. Even a billionaire slowly but surely will have trouble to gain massive influence over Bitcoin. We are talking about a trillion dollar coin. If you own $5 billion in cash, even for it is not a trivial task to gt control over that coin. Especially when they start in bulks they also further drive the price up, making it even harder for themselves to gain influence.

I guess Bitcoin is beyond the critical point where a billionaire could try to gain major control. There is only one other possibility and that is that they already own the majority. If you invested a billion in 2014 or if you slowly bought over two or three years back then, you could afford to buy half a million Bitcoins for sure. That is a realistic scenario and I also believe that at least a few banks took a gamble back then and just bought coins maybe even just for a hundred million. That's change to them.

[dimonstration]

I have in mind why billionaires should hijack Bitcoin? Is it for their own benefit or what?
I have noticed that ELON is doing something beneficial for all BTC owners because it can provide huge benefits for everyone and for himself

Hijacking in terms of boosting of crypto popularity or making some hype is what Elon did, the term hijacking is quite confusing it seems illegal when used, maybe billionaires will just use their money to manipulate the market but not totally manipulated as there are many ways and users who uses crypto without them knowing. They can manipulate at some time or event but not to the point they are only the one who will be benefited on it.

[TimeTeller]

It is obvious that world billionaires are indicating interest into bitcoin of late ,for instance Elon Musk twitted that you can now purchase his Tesla cars with bitcoin, is he trying to hod bitcoins so it will be scarce then he control and dictate the price of the market or is it for the good of bitcoin that we have been expecting ,what do you think

Billionaires like Elon Musk and big companies like Tesla have enough money to buy bitcoin in bulk, in amounts that are up to billions of dollars, but I don’t really think any one of them are ready to hold for a very long time.

All these investments that they are making are all for profit and I don’t think there is any other plan apart from that. That is why you have seen Tesla sell a percentage of their Bitcoin assets. If they should buy up and have no one to sell it to, then it’s of no use to them. They will always want to invest in something that will grow as a company, and for them to grow, capital is one of the necessary things that they need.

Also what does hijacking even mean in this context? Bitcoin is huge right now. Even a billionaire slowly but surely will have trouble to gain massive influence over Bitcoin. We are talking about a trillion dollar coin. If you own $5 billion in cash, even for it is not a trivial task to gt control over that coin. Especially when they start in bulks they also further drive the price up, making it even harder for themselves to gain influence.

I guess Bitcoin is beyond the critical point where a billionaire could try to gain major control. There is only one other possibility and that is that they already own the majority. If you invested a billion in 2014 or if you slowly bought over two or three years back then, you could afford to buy half a million Bitcoins for sure. That is a realistic scenario and I also believe that at least a few banks took a gamble back then and just bought coins maybe even just for a hundred million. That's change to them.

I also don't think they can easily manipulate the bitcoin market even if we say, they have large holdings.
If in case, these large holders will talk to each other and decide to influence the market, maybe they can.
But do you really think they will talk to each other regarding their plans for their bitcoin investments? I don't think so.
So in my opinion, they can't easily 'hijack' the bitcoin market, now that it is valued in a trillion dollar level.

[nhaila]

Bitcoin is the best online crypto in the world and recently most of the billionaires and millionaires showing their deep interest in cryptocurrencies and they already accepted Bitcoin as their products service payments systems. If it continuing,then I called strongly Bitcoin will go under billionaires.

[nelson4lov]

Bitcoin is the best online crypto in the world and recently most of the billionaires and millionaires showing their deep interest in cryptocurrencies and they already accepted Bitcoin as their products service payments systems. If it continuing,then I called strongly Bitcoin will go under billionaires.

There's no chance of that ever happening considering most of the Bitcoin OGs and Maximalists would never sell their holdings for anything. Another point I'd like to point out is that Bitcoin is a community project and cannot be controlled by a single entity or entities. It isn't the first time that such event has been attempted and won't definitely be the last. The interesting thing is that BitcoinBTC continues to be stronger than ever. I know it may look bad since a host of big corporations and individuals have joined the bandwagon but it would take much more than that to gain control of Bitcoin.

[quocsi]

Right. Bitcoin can be manipulated by these billionaires. They can change the bitcoin market. The price of bitcoin fluctuates sharply as rich billionaires invest. But besides that, the risk will be enormous when billionaires withdraw from the bitcoin market. Many investors will go bankrupt, many young people will lose their chance to get rich.

[just_Alice]

Nope, not in the slightest. Tesla acquired only around 43.000 BTC, while there are 18.7 million bitcoins in circulation right now. Do you realize what a scarce amount Tesla and Elon own? Not to mention, that simply owning the BTC doesn't have anything to do with controlling it. You need a computer with a processing power >51% of the total network power. Which is..impossible.