Some rich person not interest about bitcoin for following reason

[CryptoHeadlineNews]

A friend of mine is not interested in buying Bitcoin even after learning about it.
Because according to him Bitcoin is a small number of people who have a lot of Bitcoin. They can easily go down on the bitcoin market if they want to.
Example: Cz. Craig wright & Michel Sailor etc.

Looking forward to the well thought out opinion of the experienced in this regard.

Bitcoin is not an asset you rush people into investing in it, but rather an asset people invest in it after haven known its value and how it works. So if you said you have a rich friend who do not want to invest in Bitcoin, than that's totally fine, because inasmuch as one had got a business which fetches him/her good sum of money weekly or either monthly, it will be very hard for such people to invest a money meant for business in an asset whose value likely to depreciate or appreciate due to it's volatile nature.

So it's totally okay if people knows about Bitcoin and yet decide to place either business or any other assets a top priority.

[blockman]

So what? Just let your friend do his thing. We don't need him and if he's that rich enough, he knows what to do to retain his wealth. While we're here, we're just chilling and waiting for the bull run. Money is still money and even the richest people likes to have that money that's coming from the bull run. Why look at those people that have a lot of bitcoin when you don't even have it? Let the number play itself and let it grow overtime thanks to the demand and halving that's going to make it scarcer soon.

[Dr.Bitcoin_Strange]

OP, if Bitcoin was only held by those three groups of people, like your friend thinks, then Bitcoin will probably be very scace and unacessible to many other small and new investors because those guys you mentioned will probably be hoading their Bitcoin so that the price will skyrocket before they sell. Normally, I am aware that we have whales that have large sums of Bitcoin, but that's not enough reason for me to decide not to invest in Bitcoin. Even if I invest just a small amount of money into Bitcoin (like, 20k) and hold it till a bull market, I know that during the bull market, when everyone will be taking their profit, I will obviously sell the fraction I am holding and also take my profit. There's no big deal and not much of a concern, even if whales have a large sum of Bitcoin.

[Myleschetty]

A friend of mine is not interested in buying Bitcoin even after learning about it.
Because according to him Bitcoin is a small number of people who have a lot of Bitcoin. They can easily go down on the bitcoin market if they want to.
Example: Cz. Craig wright & Michel Sailor etc.

Looking forward to the well thought out opinion of the experienced in this regard.

First, Craig Wright shouldn't be considered a Bitcoin enthusiast.
The reason you provided above is not enough reason for your friend not to have an interest in BTC if he/she understands the technology aspect of it and the reason why people like CZ, Sailor, etc will never go down on BTC with the inclusion of reason why they always pump their own into it.

[komisariatku]

A friend of mine is not interested in buying Bitcoin even after learning about it.
Because according to him Bitcoin is a small number of people who have a lot of Bitcoin. They can easily go down on the bitcoin market if they want to.
Example: Cz. Craig wright & Michel Sailor etc.

Looking forward to the well thought out opinion of the experienced in this regard.

I think this is a common thing with bitcoin because not everyone likes bitcoin. Buying or not buying bitcoin is your friend's choice, we don't need to force him to agree to bitcoin and buy bitcoin. Just leave it alone, if he knows the price of bitcoin will be very high in the future he will definitely regret his decision and start to be interested in bitcoin.

Additionally, if people thought they could destroy the price of bitcoin by selling bitcoin massively, if they wanted to then they should have done it when bitcoin touched the ATH of $60k but that didn't happen. I also believe these people will not sell their bitcoins because they believe bitcoins will become very expensive and are an important asset to hold on to.

[pixie85]

Example: Cz. Craig wright & Michel Sailor etc.

The fact that your "friend" thinks a scammer like Wright has a lot of bitcoin shows how little he understands of the Bitcoin world. They are probably better off not having any bitcoins at all. Such people can be easily fooled and be taken advantage of.

Exactly. He knows as much as he reads in the mainstream media.

Craig doesn't own the 1 million bitcoin he claims to own, otherwise he would've used the money to pump his SV shitcoin long time ago.
Michael Saylor doesn't control bitcoin in person. It's owned by Microstrategy and that company has a board.
Most of the coins associated with CZ is again owned by Binance, not him in person.

If Black Rock buys bitcoin for the ETF OP's friend will probably say that its another whale owning bitcoin that can dump it all.

[Marvelman]

When it comes to big institutions and whales getting involved with cryptocurrency,  is kind of a double-edged sword.   Their moves make waves for sure, but it also makes crypto seem more real to a lot of people and  it's almost like a high roller poker game - the whales have a ton of chips to throw around, but that makes the game seem more legit too.  More places putting money into Bitcoin does add some stability, even if the price goes up and down a lot still.  The crypto world is kind of growing up and getting harder to manipulate as more individuals and big players come in.  But the whales can definitely still make some waves when they want to! It's a mixed bag really.

[EluguHcman]

He is already riched and is contented to his sources of income as long as Bitcoin is not for everyone nomatter how series of diverse of your investment in as much it is not possible for anyone to be a pertaker in every existing industry nomatter how lucrative and promisable profits it would be.
There is like and choices to life.

[mirakal]

A friend of mine is not interested in buying Bitcoin even after learning about it.
Because according to him Bitcoin is a small number of people who have a lot of Bitcoin. They can easily go down on the bitcoin market if they want to.
Example: Cz. Craig wright & Michel Sailor etc.

Looking forward to the well thought out opinion of the experienced in this regard.

Wait until mass adoption of bitcoin finally takes place as it will surely attract the rich community to see bitcoin as a profitable investment and a reliable currency. But for now, knowing bitcoin is not yet fully established, its expected that some people are still doubting of its own potentials, most especially those rich people who only risk their money on something that has bigger potentials to succeed, and bitcoin is not their choice.

However, its a good thing that they are seeing bitcoin that way at the moment while bitcoin development is not yet completely stable and established. But to be honest, these rich people won't want to see themselves left behind when everyone else around is hurriedly investing in bitcoin. For now, bitcoin is still considered as their option, not their final choice.

[GbitG]

A friend of mine is not interested in buying Bitcoin even after learning about it.
Because according to him Bitcoin is a small number of people who have a lot of Bitcoin. They can easily go down on the bitcoin market if they want to.
Example: Cz. Craig wright & Michel Sailor etc.

Looking forward to the well thought out opinion of the experienced in this regard.

I don't think his assertions are correct on this note. This is just a perspective he's giving to it but he hasn't really go deep in the whole Bitcoin technology. Truth of the matter is, Bitcoin is not owned or controlled by a small number of people like he portrayed but Bitcoin is a growing technology that has developed a large number of individuals from across the globe. Because of the anonymous nature of Bitcoin and the crypto world, it becomes very difficult to simply put that Bitcoin is owned by the above-mentioned names. That cannot be the case.

There are an estimated number of 400 million plus owners of Crypto wallets with over 219 million of those numbers owning Bitcoin private wallets and the trading value of 17 billion dollars traded in just 24 hours as of August this year Source.

So I think it will be too simple to come to that assertion about the number of those who control the decentralized market. Although, your friend has all the options to stick to his choices, but if really he's that stinkingly rich and he's an investor, he would love to have a major share in the Bitcoin market.

Yes, sir, I appreciate that you have explained it very well. And if it is seen in reality, what they claim is wrong, because I have not seen anyone who takes the investment and says that I can up and down my assets by selling or buying the market, but every time I have been hearing from someone, that is, from big people, that we cannot raise or lower the market for ourselves because there is no one in this market, only one who can control the market; rather, there are many investors who want to muniplate this market. You can show a correction in the market by buying and selling according to the trend.

The advantage of cryptocurrency is that it is decentralized; it does not have a limited authority; only he is running it, but everyone works together. It is true that CZ has a large amount of Bitcoin, but he simply cannot munipulate the market; rather, he needs a large amount to munipulate the market. And in a decentralized world, it is not appropriate to look at the capital of only a few people and say that these are the people who control the market, but CZ says that the market cannot be predicted. They also have this idea that the market cannot be controlled by single-buddy people, but many people work together under cover.

I hope now OP's friends understand what the truth is.

[Renampun]

A friend of mine is not interested in buying Bitcoin even after learning about it.
Because according to him Bitcoin is a small number of people who have a lot of Bitcoin. They can easily go down on the bitcoin market if they want to.
Example: Cz. Craig wright & Michel Sailor etc.

Looking forward to the well thought out opinion of the experienced in this regard.

I have read your post over and over again but can't find what is actually the essence of your question here!  one thing you have to understand, it will be calmer if you only take care of your own life, you may be very good to your friend but will it run smoothly in the future, let him not believe and buy bitcoin as long as you believe and buy bitcoin then you have supported bitcoin to continue to exist. Later, when the price of bitcoin has passed $100k, I'm sure your friend will really regret his distrust of bitcoin.

[Vaskiy]

Most of the people into the bitcoin market were the one who want to make themselves rich. From the words of OP it is clear that his friend is already rich. When he have enough money and doesn't want to risk they'll find reasons. Apart from this, bitcoin is much preferred by the people who love technology advancement and understand well about the development taking place with time. Majority of the mined bitcoins into the hands of limited members doesn't give the control to the them. Market manipulation takes place, can't deny it. What needs to be understood is to what extent the manipulation happens.

[n00ber]

A friend of mine is not interested in buying Bitcoin even after learning about it.
Because according to him Bitcoin is a small number of people who have a lot of Bitcoin. They can easily go down on the bitcoin market if they want to.
Example: Cz. Craig wright & Michel Sailor etc.

Looking forward to the well thought out opinion of the experienced in this regard.

This is not strange, because you have also seen many billionaires who are not interested in bitcoin because they are rich enough and do not need to risk investing in bitcoin. That is why gold or real estate are still sought after assets and still in higher demand than bitcoin. Bitcoin is not yet an option for every investor.

Bitcoin is not the only investment that can bring wealth. I have a few real estate trader friends who have never been interested in Bitcoin and are making more money than us bitcoin investors. So there is no reason for them to risk choosing bitcoin when they are very rich. Frankly speaking, bitcoin is the choice of most people like us who want to get rich quickly with small capital. We want to become rich, want to earn hundreds of times more profit with our small capital and bitcoin is the choice. But many people will not dare to admit this, because they are afraid of embarrassment.

[Zoomic]

If I was so rich, I wouldn't have known about bitcoin or pick interest in it. I wouldn't have been in this forum also. I would definitely be importing cars and aircraft spear parts into my country. Bitcoin is not always a thing of the comfortable people. It is because I lost funds to scammers and I was finding a way to fix myself into an online earning, that is why I am here.

People who are overly rich only looks for opportunities to invest their money and such opportunities would be what they know too well and trust, that is where bitcoin does not stand much chances to compete.

[Assface16678]

Well, your friend does have a point, but I don't agree that only a few people hold most of the bitcoin because, based on what you can search, there are a lot of bitcoin holders. His point is that, yes, those who hold a very large amount of bitcoin can affect the price and movement of the bitcoin price; that's what we called the "whales". 

Of course, your friend will have no interest in bitcoin because he already has wealth, so it's not necessary to stress himself with bitcoin, and of course he doesn't know the value of crypto currency to us, especially bitcoin, because he's already rich. That's why he said that, maybe because he has no idea about bitcoin at all, because what's the point? He already has the money and maybe is focusing on other things, like business or what, but if his wealth is inherited only, then it proves that he doesn't know the value of bitcoin at all, as for use, it is an opportunity.

[Sarah Azhari]

A friend of mine is not interested in buying Bitcoin even after learning about it.
Because according to him Bitcoin is a small number of people who have a lot of Bitcoin. They can easily go down on the bitcoin market if they want to.
Example: Cz. Craig wright & Michel Sailor etc.

Looking forward to the well thought out opinion of the experienced in this regard.

Your friend is just learning bitcoin on 1 side, does not cover the whole. I don't know why newbie always compare bitcoin with price even they can get more than that. Bitcoin is a new technology where they can learn everything with that such as blockchain tech behind, and how to secure your data on that. The price is just a bonus with that doesn't guarantee it will make him happy if the price rises multiple time. So if your friend learning the technology behind bitcoin, I really sure he will get more benefits than that price, and maybe he will create something bigger than that. So, if we look at the major discoveries by several ancient researchers, they don't care about profit, their goal only benefit of the people, but after that he got everything he wanted.

[Quidat]

A friend of mine is not interested in buying Bitcoin even after learning about it.
Because according to him Bitcoin is a small number of people who have a lot of Bitcoin. They can easily go down on the bitcoin market if they want to.
Example: Cz. Craig wright & Michel Sailor etc.

Looking forward to the well thought out opinion of the experienced in this regard.

As a rich person then you would really be always having that kind of impression on which you would really be needing to deal to be one of the first or early investors on which it is really that a common behavior of someone whose rich because they wont really be that so dumb on not to be wise on taking investment as early as possible. If they have seen something
that they are already that late and seeing that only a few wallets owning big stash of coins then those kind of comments would really
be that normal.

Well, just let him be and pretty sure they would really be reconsidering it again and might be able to ask you about it later on when the price
do hits up some another all time high. People do loves to hesitate but since he's rich then he would care less.

[SamReomo]

If someone is not interested in buying Bitcoin even after learning about it then it's far better to let that person do whatever he/she wants to do because we can't force someone to invest in Bitcoin as it's someone own choice whether to go with Bitcoin or not.

Your friend will surely regret about his decisions during the next ATH because he will think that why he didn't invested in it. Just allow him to do whatever he likes to do, don't force him to invest in Bitcoin.

[Fundamentals Of]

Your friend has a valid concern. There are indeed big whales in the Bitcoin market. These big whales can actually dump what they have and cause the price to fall. But your friend is probably wrong in overestimating these whales' capabilities or influence in the market.

What happens if Michael Saylor for example suddenly decides to sell all of his billions of Bitcoin? Supply would of course beat demand and the price would nosedive. But that's not going to be permanent. Sooner or later such sell pressure would weaken until it's gone. The market recovers and gets back to the previous price. There will always be buyers. Something similar has already happened in the past. Look where we are now.

[hd49728]

Your friend has a valid concern. There are indeed big whales in the Bitcoin market. These big whales can actually dump what they have and cause the price to fall. But your friend is probably wrong in overestimating these whales' capabilities or influence in the market.

What happens if Michael Saylor for example suddenly decides to sell all of his billions of Bitcoin? Supply would of course beat demand and the price would nosedive. But that's not going to be permanent. Sooner or later such sell pressure would weaken until it's gone. The market recovers and gets back to the previous price. There will always be buyers. Something similar has already happened in the past. Look where we are now.

Some public known whales in Bitcoin Treasuries.
https://bitcointreasuries.net/

Micro Strategy is one of Bitcoin Whales and it's unrealistic if anyone believe Saylor and Micro Strategy only buy bitcoin and they will never sell bitcoin. They buy it because it is one of their investment so investment must come to a point to take profit. They might be like Warren Buffet and Berkshire Hathaway, can hold good assets for many decades but no single selling time, it is impossible.

They must sell part of their investment to get money for business operation, for retrieve their initial capital to make sure if worst thing happens, they will still not lose their initial capital.