Billionaires and Bitcoin

[BenjaminGlover]

If you were a billionaire in the United States, how terrified would you be to see a foreign national's assets and bank accounts blocked for no reason of their own?

If you were an American Billionaire, how terrified would you be to witness a *Foreign Billionaire* having their assets and bank accounts seized for no reason of their own?

Billionaires worldwide are fearful at the moment. They can only be rescued from the sinking ship by Bitcoin lifeboats. The whole population is being saturated, including people who have never touched a drop of water in their lives.

[zasad@]

This situation will open many people's eyes to the current banking system. Some Russian tourists buy cryptocurrencies to pay for services abroad because their cards are blocked.
Now the hunt for cryptoassets begins:
https://twitter.com/chainalysis/status/1501966648768708615?

[Pokapoka124]

I believe you are referring to the recent sanctions of Russian billionaire Roman Abramovich because of Russian-Ukriane war. Bitcoin can be a life boat for them. If you are careful with your privacy, the government won't be able to track your bitcoins easily.

[avikz]

If you were a billionaire in the United States, how terrified would you be to see a foreign national's assets and bank accounts blocked for no reason of their own?

If you were an American Billionaire, how terrified would you be to witness a *Foreign Billionaire* having their assets and bank accounts seized for no reason of their own?

Billionaires worldwide are fearful at the moment. They can only be rescued from the sinking ship by Bitcoin lifeboats. The whole population is being saturated, including people who have never touched a drop of water in their lives.

It is a concerning matter that a person is getting penalized because of his government's mistake. The person is getting penalized for no mistake of his own. This is an inhumane act to be honest.

This kind of incidents actually give a bosst to the entire cryptocurrency narrative. More and more people will be able understand the necessity of having control over their own money.  That's a great learning from Roman Abramovich's property freeze and I hope people will actually utilize this learning and keep at least a percentage of their wealth in bitcoin to keep their bills paid.

[hatshepsut93]

Okay, let's imagine all billionaires sell all their assets and buy Bitcoin, then what? The whole point of being a billionaire is to own business that keeps increasing their wealth. Bitcoin is obviously not a business, it's a volatile and speculative asset. I can only see billionaires using Bitcoin to hide a small portion of their wealth. But they already have offshore bank accounts for that.

[Flexystar]

That would be vaguely terrify for me if my accounts were froze overseas. Reminds me about wolf of wall street movie where Belford has to run for his life when he gets Call that Ant Anna is dead and his assets might be ceased if does not come by. Well that’s just one of the incidence.

So yes of course things can go wrong if such act is done on my accounts. If I got that much money then it’s coming from businesses which I have set up overseas and I’m paying their locals who will be on the job. If I get banned from the same country and government then sure I would be as pissed as hell fire.

[ninis45]

Okay, let's imagine all billionaires sell all their assets and buy Bitcoin, then what? The whole point of being a billionaire is to own business that keeps increasing their wealth. Bitcoin is obviously not a business, it's a volatile and speculative asset. I can only see billionaires using Bitcoin to hide a small portion of their wealth. But they already have offshore bank accounts for that.

and that's what happens to most billionaires and a lot of the businesses they run no longer use their names in some countries to avoid tax suspicions or state laws by borrowing a third person while saving it into bitcoin i'm sure it's only a fraction of their money unless they're a bear and cryptocurrency market whale

[passwordnow]

There's a likely that when the situation even gets worse, they're going to use a way to hide all of their wealth and as much as they can save it from the sinking economy and to avoid the freezing if it's being held by a financial institution.
Well, these billionaires can also be tricky, they can just simply put their money into different assets like gold, real estate, bonds and other investments aside from bitcoin.

[TimeTeller]

There's a likely that when the situation even gets worse, they're going to use a way to hide all of their wealth and as much as they can save it from the sinking economy and to avoid the freezing if it's being held by a financial institution.
Well, these billionaires can also be tricky, they can just simply put their money into different assets like gold, real estate, bonds and other investments aside from bitcoin.

Let us put it this way, they won't reach their status if they don't know what they are doing.
They know better more than anyone how to manage their assets, with or without crisis.
Besides, they have other people taking care of their wealth.
So for me, they don't need advise from us because they know more than anyone how to secure their assets.
At this stage, if they are a billionaire, they already surpassed a lot of challenges along the way.
And they very well know where to put their assets in case of possible challenge in the horizon.

[darkangel11]

I'd be afraid as a Russian billionaire but not as a citizen of the EU or US. There are some countries that are moving towards total control and socialism and one of them is Canada. China of course is another example. The whole world hasn't gone nuts it's just some places that are getting harder and harder to live. Russia is an extreme case and if you were a Russian billionaire you had many years to run away from there. You either were an opposition like Khodorkovsky or supporting Putin like Abramovich.

[OgNasty]

If you were an American Billionaire, how terrified would you be to witness a *Foreign Billionaire* having their assets and bank accounts seized for no reason of their own?

That is an interesting question indeed.  As a billionaire, you have to imagine their main focus is on maintaining their wealth, not accumulating it.  That means they would have to balance the risk between having their funds lost without being insured, and having their funds confiscated by an unruly government.  I'm betting a lot of billionaires are hiring people to setup self-custody systems that they feel comfortable with in order to avoid the risk of holding their funds on exchanges.  I'm sure they've got their money spread around though.  No billionaire puts all their eggs in one basket as they say.  So while they are probably concerned about losing their funds, when you're that rich, how concerned can you really be?  You just play both sides of the fence and let inflation keep you rich. 

[dothebeats]

I'd be terrified for sure, and the initial plan of action is to disalign myself with countries or entities that I know that are quite unstable and would have the tendency to do some crazy things and take my assets to their downfall. Governments can easily seize your assets and funds if you're doing something sinister, but if you're doing everything by the book and does not appear to engage in any illicit or fraudulent activities to gain wealth, there is no reason for the government to freeze or seize your assets in any way.

Or you can keep some of your assets in bitcoin, but there isn't any guarantee your assets will remain the same value, but at least you control your assets fully.

[asus09]

Billionaire vs bitcoin, maybe this applies to a country that is at war, maybe Russian billionaires are starting to fear and start to be wary of their wealth being confiscated by other countries, such as Chelsea boss Abramovich, who suffered tremendous losses, and he was not allowed to manage the club again, maybe bitcoin will be a good repository for billionaires to hide their assets, so the state can't confiscate their wealth, because we know bitcoin is a very valuable asset, only we know about the assets we have.

[Uang_kartal]

If you were a billionaire in the United States, how terrified would you be to see a foreign national's assets and bank accounts blocked for no reason of their own?

If you were an American Billionaire, how terrified would you be to witness a *Foreign Billionaire* having their assets and bank accounts seized for no reason of their own?

Billionaires worldwide are fearful at the moment. They can only be rescued from the sinking ship by Bitcoin lifeboats. The whole population is being saturated, including people who have never touched a drop of water in their lives.

Is there a source that reports about this?
I can't imagine that happening in my finances.
maybe Americans will be very tormented about this, unilateral decisions are indeed unfair, I also feel, about the assets of billionaires there are those who may be afraid that there are also those who have backups of both bitcoin and other digital assets that have surfaced financially. all issues and conditions because they fluctuate so naturally. I'm sure I will return and be good enough to save assets.

[Poker Player]

If you were a billionaire in the United States, how terrified would you be to see a foreign national's assets and bank accounts blocked for no reason of their own?

If you were an American Billionaire, how terrified would you be to witness a *Foreign Billionaire* having their assets and bank accounts seized for no reason of their own?

Billionaires worldwide are fearful at the moment. They can only be rescued from the sinking ship by Bitcoin lifeboats. The whole population is being saturated, including people who have never touched a drop of water in their lives.

I don't know what would worry me if I were a billionaire, what does worry me is that this was done without a trial, without following the rule of law. There is a component of arbitrariness and authoritarianism more typical of dictatorships in this that I am surprised not to see questioned by the western mass media.

To freeze their assets because they are Russian seems to many people to be fine or they don't care because they identify it with Putin, when the people in question may not have done anything wrong or even agree with Putin.

I don't see much difference with freezing your assets for being Jewish either, and this would be more outrageous, wouldn't it?

[killerfrost]

I'm not a billionaire, so I'm not worried, but on this issue, I think you'll change your mind. We are standing in a different position and looking at their thoughts. I personally see that wealth is not the main issue when we see that life has more things to care about and it is just an ending to those.

[YOSHIE]

If you were a billionaire in the United States, how terrified would you be to see a foreign national's assets and bank accounts blocked for no reason of their own?

Obviously, I can't imagine how crazy I would be if that happened, luckily I'm not one of them.

If you were an American Billionaire, how terrified would you be to witness a *Foreign Billionaire* having their assets and bank accounts seized for no reason of their own?

this is the same answer as point 1, fortunately I am not included in their category.

Billionaires worldwide are fearful at the moment.

Maybe, you are right today's billionaires prefer to save their assets rather than take uncertain risks or withdraw all their assets before the bad risk occurs, maybe we realize they billionaires have more information that other residents don't know about Bitcoin developments to come, and they probably know what to do before it happens.

[KaliLinux]

I do agree that this situation with the Russian Oligarch Sanctions from most parts of the world will definitely open up thoughts to other forms of investments especially Bitcoin Investment since sanctions on your country can affect you at no time even if you are not involved in Government, I imagine whet the ordinary Russian Citizens must be felling right now.

[PrivacyG]

They likely knew something bad was going to happen with their wealth before it did.  Everyone knew ever since the first day of the war that Russian billionaires would become a target of the West.

Bitcoin can save them, but if the West is so aggressive with the sanctions then more Bitcoin usage could backfire on us.  They want the Russian billionaires to go broke, they do not want them to find an escape.  So ultimately, they could take decisions that affect AND help us.  Think of the exchange bans for Russian IPs.  Sucks!  But simultaneously, this is going to lead to more people looking for Decentralized Exchanges.

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Regards,
PrivacyG

[mk4]

It's the masses that should be afraid, not the billionaires. Most if not all billionaires have all the connections they need to survive and live their lives normally. The masses, however, are pretty much screwed if they got their financial freedoms revoked.