Some rich person not interest about bitcoin for following reason

[invo]

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.

It's normal for a person not to be interested after they learned from it because it's not in their taste. But the way he respond has nothing difference with the most people who refused Bitcoin. We have nothing to do with them but to make them realize that Bitcoin is not the same as they think. Most of my friends are interested in Bitcoin but the only problem is that they don't have enough money to invest. I see their interest and I look forward for it. If ever they have an extra money I'm sure they will going to invest Bitcoin. Their mindset is somehow different from people who really stable in life.

Let them miss out on the technology they think negatively. That's the correct mindset, instead of wasting your time, just show them the result of your investment. The day will come when they will regret their choice of not paying attention to this technology.

[D ltr]

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.

because basically financial issues are very sensitive to talk about, so we don't need to bother digging deeper into other people's financial problems,
If they don't own Bitcoin, it's possible they are already too rich and don't want the headache of seeing Bitcoin price movements fall very quickly and take months to reach a new ATH.

[EarnOnVictor]

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.

Your topic just crossed my eyes now and I believe it's worth replying as perhaps it might change the mind of your friend. If it couldn't, then all the best to your friend. But one certain thing is that he will be the one to lose as Bitcoin will shame all doubters over time as it always does.

Specifically, your friend has a misconception about the fact that a few people are controlling Bitcoin. Bitcoin whales are many and most of them don't know themselves, while many are not even recognised people in society talkless of naming and linking them. So how would your selected few control it? By the way, 219 million people have Bitcoin according to statistics and it is a well-liquid market with presently over $700 billion which keeps growing. There are many precious metals and stones that have not reached that status despite being known and traded for centuries.

In the next 1.3 years, I'm sure your friend will regret not buying it, and mind you, risk-taking makes more riches. Bitcoin is a reasonable risk for that matter, he should think twice.

[Lorence.xD]

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, we all have different opinions on Bitcoin which is actually normal. Even if you say that there are only a few people holding Bitcoin, the market still depends on its volatility Bitcoin's potential for the long term for sure would increase its value but its current value would be volatile. If your friend is already rich and doesn't want to invest in Bitcoin, I think it's more like his preference, because he might get rich in another way cause if he'd make money in Bitcoin, he wouldn't doubt it. Some rich people find alternative investments other than their source of money like from their business than putting them into a bank. I also think that your friend might not be knowledgeable enough in the crypto industry but has other ways of making money where he's much more skilled and smart.

[Hewlet]

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.

it is totally his choice to make the decision to invest or not to invest in Bitcoin based on whatever reason that he choose to hold on to. And let me reiterate this here, Bitcoin isn't the only profitable thing one can invest his money into, there are lots of other ways one can make investment depending on what the person feels comfortable with. I know a relative that has a lot of money but wouldn't want to make any investment that is outside of business. He feels that since he can see the physical business and monitor it growth, he his satisfied with that. Others might not think in that direction but you just have to allow them be and stick with what works best for you.

[Mpamaegbu]

~snipped~

Also I think some of them creating a service that helped in the popularity of Bitcoin like Cz launching an Exchange (that no matter how we don't like him, he has helped in the popularity of the currency).

Hehehehe... It's really soothing, reading that from your masterpiece. You know how our discussions (in divergent views, of course) on CZ always went 😏. Sincerely, what you said there is the undiluted truth. The services these people have created around Bitcoin helped to further deepen its publicity. Whether we like it or not, CZ remains a force to reckon with in cryptos. We can say his exchange and other crypto creation of his are centralized and shouldn't be trusted but this is Binance's 6th year in this industry and still waxing strong. CZ looks like one who's capable of breaking more grounds in years to come. He isn't done yet.

[kawetsriyanto]

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.

First of all, there is no need to force any one to join Bitcoin investment or trading. If your friend isn't interested, it is okay. It means your friend is still not sure about Bitcoin and he doesn't understand the advantages of Bitcoin. He may already learn it, but he misses the part of the potential of Bitcoin in the future. Anyway, even if it is true that there are few people only who have a huge number of Bitcoin, it is never proven that it can destroy the market. We already experienced it for many years, and it doesn't influence much to the market activity. It is just his own assumption because he still doesn't understand enough about Bitcoin.

[Fatunad]

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, we all have different opinions on Bitcoin which is actually normal. Even if you say that there are only a few people holding Bitcoin, the market still depends on its volatility Bitcoin's potential for the long term for sure would increase its value but its current value would be volatile. If your friend is already rich and doesn't want to invest in Bitcoin, I think it's more like his preference, because he might get rich in another way cause if he'd make money in Bitcoin, he wouldn't doubt it. Some rich people find alternative investments other than their source of money like from their business than putting them into a bank. I also think that your friend might not be knowledgeable enough in the crypto industry but has other ways of making money where he's much more skilled and smart.

And if they do have that kind of point of view then let it be, if you do try to make some explaination then it might really be ending up on some long discussion or even a debate on which it is really that pointless if you are really that trying out to win against on someone who are not a believer or something that do really accepts any new ideas. For some then they might really be able to welcome some good opportunity or new ideas on which it might result into some good introduction of Bitcoin into other people but since we are talking into those rich person who had able to acquire their richness via with those traditional investments or things then they are the ones who might not really be that easily believe into something which is speculative and highly volatile on which i couldnt really blame them.

It would really be just that too impossible  that they wouldnt really be able to think up things and could be able to balance out on whats risky and whats less risky. This is why they would really be
deciding on what are the things that they would really be gonna deal off with and what are the things that they must avoid.If on the time that you do make out some explaination or introduction with
these kind of people and rejects out on the things you've been trying to explain then it wont really be that a bad idea on turning back directly and dont force them to believe
on something that they arent interested.

[Bloodseekers]

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.

First of all, there is no need to force any one to join Bitcoin investment or trading. If your friend isn't interested, it is okay. It means your friend is still not sure about Bitcoin and he doesn't understand the advantages of Bitcoin. He may already learn it, but he misses the part of the potential of Bitcoin in the future. Anyway, even if it is true that there are few people only who have a huge number of Bitcoin, it is never proven that it can destroy the market. We already experienced it for many years, and it doesn't influence much to the market activity. It is just his own assumption because he still doesn't understand enough about Bitcoin.

I agree with you who don't like investing in Bitcoin because they don't know how to make a profit from the investment they make with Bitcoin and they also won't be able to learn about Bitcoin because they don't like it or they already know an easier way to make money easily.

[KennyR]

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.

First of all, there is no need to force any one to join Bitcoin investment or trading. If your friend isn't interested, it is okay. It means your friend is still not sure about Bitcoin and he doesn't understand the advantages of Bitcoin. He may already learn it, but he misses the part of the potential of Bitcoin in the future. Anyway, even if it is true that there are few people only who have a huge number of Bitcoin, it is never proven that it can destroy the market. We already experienced it for many years, and it doesn't influence much to the market activity. It is just his own assumption because he still doesn't understand enough about Bitcoin.

I agree with you who don't like investing in Bitcoin because they don't know how to make a profit from the investment they make with Bitcoin and they also won't be able to learn about Bitcoin because they don't like it or they already know an easier way to make money easily.

As bitcoin is technology associated people have got different view on bitcoin. They never find this to be interesting, and think of it as a complicated one. Unlike the stock market it can't be predicted which is a big difference and the volatility used to be very high compared to the stock market. Most of the people who doesn't show interest upon bitcoin is not because of the risk, complication, and other regulatory issues. Already they've found a way to earn better, what for most of the people get into bitcoin. Not for the technology that stands unique, but to make money.

[oktana]

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.

Please tell me you didn't expect everyone to buy the idea. If not, you need to be aware that there are people who will never want to get into Bitcoin no matter what it offers. Also, it seems you pitched it to your friend as an investment. If so, how about you discourse with him on how Bitcoin is more than an investment; how you can actually use it to make payments, send money, etc? He probably looked away because he has so much money whereas, there are other ways he could benefit from Bitcoin.

[Kaliandra]

In this case, you should not force your friend to invest in BTC, and you must respect his decision, and don't let your relationship with your friend be damaged. but I also don't know how rich your friend is, but surely your friend has reasons that make your friend ultimately not want to invest in BTC, but I also don't know whether your friend is learning about BTC optimally or not.

Investing in BTC is very risky, so not everyone wants to get involved with BTC, but for some people, many people see positive things about BTC, which is why many invest in BTC.

But in my opinion, BTC is only for people who are ready for the risks BTC poses. and I also invested in BTC because I wanted not to be left behind and I always have a positive view of BTC, and have also benefited from investing in BTC.

[Suzume]

In our country many person don't aware with Bitcoin. Because crypto currency is legal in our country. That's the reason people don't show interest in it without knowing about it. Those who work in crypto they come here with their dedication and knowledge. But those who are rich they don't know and because of it's illegality no one take risk to help ant teach someone. That's the reason in our country rich men are not interested.

[TakeItEasy]

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.

Then he would not be even interesting in trading, because he would think that only the bitcoin is holding by these people they can sell it at any time, then same in the case with other coins if Solana is hold by some of its team members or its owners then would you think that we are not going to trade because because may be its owner sell all the Solana and we may be in loss?
This is just the thinking of an individual, anyway we can't stop investing in the bitcoin just by not having proper knowledge about the trading and not having a way open up for trading in any coin.

[Mauser]

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 can understand your friend and his reservation towards Bitcoin. Back in the days you could aquire a large amount of bitcoins very cheaply and quickly. These so called whales have a huge power over the bitcoin market and influence price considerably. However, this is not really something new, in the stock market there are huge investment managers and hedge funds than hold large parts of companies and can influence the prices heavily too. If someone like Warren Buffet decides to buy or a sell a company this is going to send the price flying. In my opinion this is not necessarily a bad thing, just because a few rich people own large parts of bitcoin doesn't mean that they want to push the price down. Long term the whales are interested in high prices as they can sell some of their coins and make huge profits. A low bitcoin price doesn't help the whales and price manipulation are not going to last forever.

[Blitzboy]

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 can understand your friend and his reservation towards Bitcoin. Back in the days you could aquire a large amount of bitcoins very cheaply and quickly. These so called whales have a huge power over the bitcoin market and influence price considerably. However, this is not really something new, in the stock market there are huge investment managers and hedge funds than hold large parts of companies and can influence the prices heavily too. If someone like Warren Buffet decides to buy or a sell a company this is going to send the price flying. In my opinion this is not necessarily a bad thing, just because a few rich people own large parts of bitcoin doesn't mean that they want to push the price down. Long term the whales are interested in high prices as they can sell some of their coins and make huge profits. A low bitcoin price doesn't help the whales and price manipulation are not going to last forever.

Similar to stocks, Bitcoin's 'whales' have considerable power. However, their desire to maintain or increase Bitcoin's value is clear. Why? Simple: self-interest. Whales, like smart investors in any market, maximize rewards. They profit from high Bitcoin prices for sell-offs.

Think about it: Decentralization and blockchain technology make Bitcoin transactions transparent. Bitcoin transactions are public, unlike traditional markets where significant players' moves are hidden. Price manipulation exists, but only temporarily. Bitcoin has grown over time, often recovering from market manipulations.

Supporting Bitcoin means recognizing a transformational financial ecosystem that evolves and matures like any other market. Whale presence? The game frequently favors long-term strategy over short-term gains.

[MarjorieZimmermanGinger]

In our country many person don't aware with Bitcoin. Because crypto currency is legal in our country. That's the reason people don't show interest in it without knowing about it. Those who work in crypto they come here with their dedication and knowledge. But those who are rich they don't know and because of it's illegality no one take risk to help ant teach someone. That's the reason in our country rich men are not interested.

Although that is one of the common reasons people give, I don't think it's the only reason people don't get involved in bitcoin, especially because countries don't legalize it. I am one of the people who lives in a country that legalizes bitcoin or crypto as an investment asset and our country is quite strict regarding transaction tools using bitcoin and even the sanction we will receive is prison if we carry out transactions using bitcoin. But for me personally, I see bitcoin as a solution amidst the current economic chaos, so buying bitcoin is one way to maintain the value of the currency we have.

Limited knowledge prevents some people from getting involved in bitcoin and they don't know the power of bitcoin in investing. As I see, our country has quite a big growth in bitcoin in particular and there are many people who are currently quite interested in taking the opportunity to learn to invest in bitcoin.

[m2017]

If he doesn't see the point, he probably has enough of the wealth he has. He is happy without bitcoin. I agree with the previous opinion, there is no need to impose your opinion in financial matters. You could lose a friend.

He may see the point, but judging by OP’s post, he fears that the bitcoin will depreciate, because a large number of bitcoin are owned by a narrow circle of people. Here it seems more like his friend's fear for the future of his wealth if it were invested in the bitcoin.

Bitcoin is not a tool that makes you happy. Even for rich people, this can be useful just for preserving wealth. Because with wealth there are 2 biggest problems: how to accumulate wealth and how to save it. If poor people use bitcoin to solve the 1st problem, then rich people can use it to solve the 2nd problem.

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 he is not interested, then leave your friend alone. His finances are his problem.

[barisbilgili]

Then he would not be even interesting in trading, because he would think that only the bitcoin is holding by these people they can sell it at any time, then same in the case with other coins if Solana is hold by some of its team members or its owners then would you think that we are not going to trade because because may be its owner sell all the Solana and we may be in loss?
This is just the thinking of an individual, anyway we can't stop investing in the bitcoin just by not having proper knowledge about the trading and not having a way open up for trading in any coin.

Everyone has different desires in investing and there are some people who don't like investing in Bitcoin and this will not have the slightest effect on people who already like Bitcoin and they can understand well about Bitcoin and how they can profit from investing and trading on Bitcoin so they really like it and those who don't like it maybe they don't understand Bitcoin well and also maybe they have found a way to make money in another way which they think is easier.

[wiss19]

Let him be and don't force him or try to convince him that Bitcoin is good and it isn't or can't be controlled by a single person or entity unless they acquire a very large percentage of the total supply which is not the case and I don't think it will happen because that will require a lot of money for a single entity to acquire that many Bitcoins. So, if someone thinks that Bitcoin is controlled by the people who hold a large amount of it, they lack basic knowledge about it.

I don't say that the market is free of manipulations, a financial market will surely have some manipulations, but just because some rich or influential people hold a large amount of the total supply of a certain asset, which isn't large enough to be used for manipulation, it doesn't make that asset bad or untrustworthy.