Some rich person not interest about bitcoin for following reason

[libert19]

He'll be interested when Bitcoin rises and makes headlines to the news, and will come to you with regret why didn't he listen to you and made purchase.

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.

Although, he's correct in his own regard, market will go down if these people or other whales were to make market sell. But, we all know it'll recover, as it did before.

[boyptc]

Same old reasons from the rich folks that we've known, they're not interested until Bitcoin blows with its prices again surprising them that it's skyrocketing so fast.

Lock him up whenever he shows interest when the price of bitcoin reaches back to its former ATH or even higher than that which is more likely to be like 6 digits soon.

Although, he's correct in his own regard, market will go down if these people or other whales were to make market sell. But, we all know it'll recover, as it did before.

While the nature of Bitcoin will certainly recover quickly after that.

[philipma1957]

If he is already rich enough, he may not need bitcoin, although I find your argument too simplistic and I would like to know your friend's level of 'rich'. Do you know approximately how much wealth he has?

Anyway, it is a bad idea to try to change people's minds on financial matters.

I so disagree with the op .  I have a friend he is a retired banker.  He is wealthy and he is 77.

He has well over 20 million usd. We mine in his office just for fun.

So if a 77 year old worth over 20 million usd is willing to mine and we are still trying a good property to turn into a mine the answer is wealthy people do have an interest.

[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.

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.

Yes of course. Michael Saylor doesn't promote Bitcoin because of what Bitcoin fundamentally offers in terms of decentralization and freedom from the shackles of the government and bank's role in everybody finances. He is obviously more into Bitcoin's price. The way he hoards Bitcoin speaks so much of this greedy motive than his love of the technology. I don't believe investors won't sell. If they have Bitcoin, use it as a currency, then that's realistic. But if they have Bitcoin, keep it, add more to it, keep it longer, that's not about Bitcoin itself but its price.

[Smack That Ace]

He'll be interested when Bitcoin rises and makes headlines to the news, and will come to you with regret why didn't he listen to you and made purchase.

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.

Although, he's correct in his own regard, market will go down if these people or other whales were to make market sell. But, we all know it'll recover, as it did before.

If he is really rich and has a stable income then the fact that he is not interested in bitcoin is not bad or he is wrong. You should not expect that one day he will regret not investing in bitcoin, with that in mind, it is like we are ready to curse someone if they know about bitcoin but do not invest in it. Don't forget that many people around you are living richer, happier lives than you without bitcoin. Bitcoin is just one of many tools that bring us money, and people have the freedom to choose what they want.
If they invest in bitcoin then we welcome and welcome them because we are of the same mind, but if they don't like it and choose something else then that's okay, as long as they are happy with their choice.

[2Pizza410000BTC]

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 understand your friend's idea that if people who have more bitcoins sell bitcoins, the bitcoin market will go down a lot. If your friend's idea here is the opposite, the bitcoin market will be sky-high if those who own more bitcoins don't sell bitcoins. But the bottom line is that those who have more bitcoins can dump the market a bit if they want, but not much market dumping. OP I want to tell you if your friend is not interested in investing in bitcoin then never make him interested in investing in bitcoin. Especially if the bitcoin market dumps for some reason after your friend invests then you will be blamed for the rest of your life.

[MarjorieZimmermanGinger]

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.

That will be the answer when people say who Bitcoin was created for. Your post is a little confusing because I can't understand what does a person who has a lot of bitcoins mean by a small number of bitcoins? When people are not interested in investing in Bitcoin even though they have learned about it the question arises, why does this happen? Isn't Bitcoin one of the best things that can maintain the value of the investments we make and Bitcoin can also provide financial freedom if invested correctly.

Now let's look at it as an individual step and whether you think bitcoin can have an impact on people who invest. Once we get this answer, there will be an answer for each of us individually because in fact there is no advantage whatsoever in refusing to accept investment in Bitcoin. Changing people's views on financial matters might be terrible but there's no harm in giving them some insight.

[aysg76]

I wouldn't say the supply is concentrated in bitcoin case with a particular group as for Saylor he holds on a institution basis and they won't sell all the coins at once but still it's your friend personal opinion.For some profit making is concern but priority is decentralized control over your funds without any government or third party intervention if you understand Bitcoin at the core level.It was not designed to give you huge profits margins but as a alternative to the traditional fiat payments with full control but with network security as well.The supply is limited and we can't say it should be with all so it is dependent on you how you see it and not listen to others.

[mindrust]

Since he is rich he has the luxury to ignore bitcoin completely. Unless he does something very dumb, he will never ever be poor again so why make life more complicated than it is? He can buy anything he wants since he is rich already. He may get even richer if he invests in btc but maybe he thinks he has enough wealth or maybe he sees bitcoin as a ponzi scheme which is still a common belief among many people. Either way we can’t force people to become believers of bitcoin. There will be some people that will ignore it completely and there will be haters also. Bitcoin/crypto is not the only game in town and he probably knows it well. There are other ways to grow wealth too.

[thecodebear]

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.

Sounds like he doesn't really know much about Bitcoin. Any financial asset that acts like an investment is going to have a small number of people holding a lot of it, because a small number of people hold a lot of the wealth of the world.

And, so you are implying your friend is rich? Usually rich people are smart enough to want increase their wealth, and Bitcoin is pretty much the best way in the world to do that these days, so I'd say your friend really doesn't understand the finances whether he is rich or not.

[bounceback]

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.

Basically we cannot force someone to invest in Bitcoin because each individual definitely has their own choice, even though we know that this person actually has a lot of funds that can be invested in large amounts at any time, but this does not rule out the possibility that some of them will also will invest in Bitcoin but maybe they prefer to keep it a secret so that it is not revealed to the public, so we cannot conclude that all rich people are not interested in investing in Bitcoin because sometimes they keep it secret so that people think that they are not involved at all with Bitcoin.

[Kakmakr]

Your rich friend will never be able to invest in anything, if that is his reason.... because every commodity or stock or share ....have some Fiat Whale that are over invested in it.

Take something simple like "Grain" or "Property" .....does your friend think that there are not major investors that are manipulating those markets? I knew of a mega grain farmer, that held out on supplying the market with his grain... until the price (demand) increased ...and then he made his grain available to the market.  

[Out of mind]

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.

If your friend learns about Bitcoin and doesn't like to invest, maybe he has a lot of wealth. If so, then your friend's level might be a rich person, which is why he doesn't care much about Bitcoin. If he owns a huge wealth, he will not be so interested in Bitcoin. But if your friend sees the future of Bitcoin, he will surely understand how high the price of Bitcoin is likely to go.

[Dr.Osh]

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.

well, they have many businesses and if they have been very successful with the businesses and investments they have, then it is natural that they are not interested in bitcoin. Additionally, not everyone is necessarily interested in bitcoin. Bitcoin is just one of the great investments available today. People who do not choose bitcoin in their investments means they have no interest in such investments. I also know many rich people who are not interested in digital investment. he only chooses real estate or gold as his investment. Well, that's a natural thing for everyone's interest. we cannot force everyone to accept and choose bitcoin, even when it is very profitable.

[NotATether]

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.

That is silly. Why would somebody want to go down? Have you ever seen a person sitting on millions of dollars wanting to throw it all away? (Well, celebrities maybe, but we are talking about investors here).

It makes no sense to not buy bitcoin just because a bunch of rich people already own it. It's just going to go up even more.

[pinggoki]

That's his decision even after hearing all that stuff that you've talked about bitcoin, your friend is already rich so I don't see how that friend will benefit from investing in bitcoin besides becoming more richer because of the potential profits if he invested in bitcoin. Or probably that friend's already busy with his businesses so he doesn't have a time to allocate for bitcoin and learning more about it. Your friend's concern is genuine too, a lot of whales and institutional investors are competing to accumulate more and more bitcoin and the casual or retail investors don't really have that much they can do about it, you're friend is probably trying to play safe and wants to not be caught in the catastrophe that he thinks will happen.

[Fivestar4everMVP]

Even the rich needs to engage themselves in investing in good assets so as to keep bring rich and even grow their wealth bigger, if you friend feels like he can not invest in bitcoin because he feels its only a small number of persons that hold bitcoin which I personal do not agree to by the way, but then, that is his loss.

With the way bitcoin have grown, It has proven that even the rich need to invest in bitcoin, there is still alot of room for bitcoin grow in price, people are selling bitcoin everyday, and so it alot of people also buying it every day as well, if any big holder decides to sell all his or her bitcoin bag, buyers will buy them all even though it's not all at once, and even if such a sell affected the market negatively, it will only be but for a moment, in the next couple of days, bitcoin will be back to the price it was before the huge sell began, and may even grow much more.

I personally have become really convinced in buying and holding bitcoin, whoever feels they cant buy bitcoin for whatever reasons, it's their one loss.

[Strongkored]

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.

There is no point in forcing your friend to be interested in buying Bitcoin because it is not a failure for you if he is not interested in buying because it could be that he does not find anything interesting or something that can benefit him because as the title you mentioned is that your friend is a rich person, because if you read many threads on this forum, you will find more average economic people who are interested in buying in the hope of making their money increase sharply, or it could be that your friend just doesn't want to express his interest in Bitcoin and actually already has that, just a secret because he doesn't wants others to know that he owns Bitcoin.

[DabsPoorVersion]

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.

There is no point in forcing your friend to be interested in buying Bitcoin because it is not a failure for you if he is not interested in buying because it could be that he does not find anything interesting or something that can benefit him because as the title you mentioned is that your friend is a rich person, because if you read many threads on this forum, you will find more average economic people who are interested in buying in the hope of making their money increase sharply, or it could be that your friend just doesn't want to express his interest in Bitcoin and actually already has that, just a secret because he doesn't wants others to know that he owns Bitcoin.

OP seems to not be forcing his friend to buy Bitcoin. From my point of view, he just explained that for some reason rich people don't consider buying/investing in Bitcoin even after learning about it. Because they don't see any future in it and Bitcoin can easily go down if people with a large number of holdings suddenly sell their Bitcoins. For the said reason, the question we could ask is, do they really learn about it? If so, why don't they see the future of this technology?

[blckhawk]

He is right but why haven't the people with a lot of bitcoin sold any? Some continue to accumulate even with a significant amount.

Probably fattening the goose much more, I think that is the only logical reason why they still have not sold their bitcoins yet, they have seen it go up to 69k USD last time so they still think that there is a possibility that bitcoin is still going to go up so they still have not dumped their bitcoins yet. It's a good thing that they are just accumulating yet because that means that they are not ready to cash out yet, these whales are probably accumulating more bitcoin and are planning to sell it like they are cashing their retirement cheques.

There is no point in forcing your friend to be interested in buying Bitcoin because it is not a failure for you if he is not interested in buying because it could be that he does not find anything interesting or something that can benefit him because as the title you mentioned is that your friend is a rich person, because if you read many threads on this forum, you will find more average economic people who are interested in buying in the hope of making their money increase sharply, or it could be that your friend just doesn't want to express his interest in Bitcoin and actually already has that, just a secret because he doesn't wants others to know that he owns Bitcoin.

Totally agree, and it seems that OP respects his friend's decision and the reason for not investing is pretty valid in my opinion, I mean it's scary to be a victim of a rugpull and OP's friend probably has a previous experience on this kind of stuff and it was a bad experience so that friend has learned the lesson and not invest in any kind of stuff like that again. The friend's reason that there is only the whales that are accumulating and gathering a lot of bitcoin is just an added reason why that friend doesn't want to invest in bitcoin.