Why doesn't one multi-billionaire buy a huge share of all bitcoins?

[btcnbegun]

There are billionaires worth over $100 billion, and even more worth between $10 billion and $100 billion. So why haven't any of them bought most of the bitcoins? They could have done so, for example, in 2020, when the price of bitcoin was $5,000-$8,000. Bitcoin's market cap is now less than $2 trillion, and it used to be even less. Some multi-billionaire could have bought at least 10% of all bitcoins, but why hasn't anyone done so?

[Ruttoshi]

There are billionaires worth over $100 billion, and even more worth between $10 billion and $100 billion. So why haven't any of them bought most of the bitcoins? They could have done so, for example, in 2020, when the price of bitcoin was $5,000-$8,000. Bitcoin's market cap is now less than $2 trillion, and it used to be even less. Some multi-billionaire could have bought at least 10% of all bitcoins, but why hasn't anyone done so?

This is because they don't trust bitcoin and see it as a speculative asset that might not survive in the long run. As time passes on, bitcoin keeps proving to people that it's a store of value and a hedge against inflation. However, there are some rich folks who understand bitcoin but don't have such wealth. They have being buying aggressively since 2020, example is Michael Saylor.

Secondly, the government have been spreading FUD those years that bitcoin is used for scam and they were against it. This circle bull run left most of them speechless as bitcoin proved them wrong. Look at how big companies in various sectors have started buying bitcoin aggressively for their bitcoin reserve after bitcoin hits $100k.

[kotajikikox]

There are billionaires worth over $100 billion, and even more worth between $10 billion and $100 billion. So why haven't any of them bought most of the bitcoins?

They do not want to put most of their money in bitcoin. If their net worth is up to billions, it doesn't mean that they have the billions in cash lol. It is probably in other assets too already and they don't want to convert all of that to buy bitcoin.

They could have done so, for example, in 2020, when the price of bitcoin was $5,000-$8,000. Bitcoin's market cap is now less than $2 trillion, and it used to be even less. Some multi-billionaire could have bought at least 10% of all bitcoins, but why hasn't anyone done so?

Because back then, they probably did not trust bitcoin to reach this point. If I knew bitcoin would be reaching $10k a decade ago, I would have done anything to buy some bitcoin even if I wasn't a billionaire myself.

[JeffBrad12]

Simple, they don't have enough conviction to buy it and back then when BTC was still priced low there were no ETF, etc that can improve the legitimacy in their eyes. Other reason is because most of billionaires don't have liquidity or in other words cash to buy bitcoin. Most of their net worth are in stocks and if they dumped it, the stock price would fall and their net worth will plummet

[Free Market Capitalist]

What a load of bullshit, if you focus it on those with over 100 billion you are narrowing the spectrum too much plus those people are so rich already that they don't need to look for a solution that will allow them to grow their wealth fast. It happens like in companies, the biggest ones like Microsoft make so much money that they don't see the need to buy bitcoin, the ones that are buying it en masse are the ones with stagnant or declining businesses. Besides the fact that 5 years ago there was not the regulatory clarity that there is now, for example. It is more normal that from now on more and more rich people will buy bitcoin, than it was 5 or 10 years ago.

But if you want billionaires in general there are plenty, Saylor, Ricardo Salinas, Tim Draper, etc.

[davis196]

There are billionaires worth over $100 billion, and even more worth between $10 billion and $100 billion. So why haven't any of them bought most of the bitcoins? They could have done so, for example, in 2020, when the price of bitcoin was $5,000-$8,000. Bitcoin's market cap is now less than $2 trillion, and it used to be even less. Some multi-billionaire could have bought at least 10% of all bitcoins, but why hasn't anyone done so?

1.It isn't that easy even for a multi-billionaire to gather tens of billions of dollars in cash and liquid assets. There are capital gains taxes and selling large chunks of stock shares would crash the stock prices of many big corporations.
2.Buying 10% of all BTC isn't that easy. The buyer would have to negotiate with big crypto exchanges and even try to buy BTC from as many small BTC HODLers as possible. This requires a big team of executives.
3.Buying 10% of all BTC is several transactions would pump the BTC prices, which means that after every purchase, the multi-billionaire would have to pay more and more for the same amount of BTC.
4.Most multi-billionaires aren't fanatic crypto supporters, and most of them aren't very motivated to multiply their wealth. What's the point making another 100 billion, when you already have 100 billion?

[BitGoba]

There are billionaires worth over $100 billion, and even more worth between $10 billion and $100 billion. So why haven't any of them bought most of the bitcoins? They could have done so, for example, in 2020, when the price of bitcoin was $5,000-$8,000. Bitcoin's market cap is now less than $2 trillion, and it used to be even less. Some multi-billionaire could have bought at least 10% of all bitcoins, but why hasn't anyone done so?

Thats because many billionaires still don't really understand what Bitcoin is. A few weeks ago, at a Bitcoin meetup for Bitcoiners from the former Yugoslavia ,Serbia, Croatia, Bosnia , a Croatian millionaire and well-known entrepreneur, Hrvoje Paprić, showed up. He had bought large amounts of Bitcoin very early on. We all thought he was smart and that he had understood Bitcoin before everyone else. But when someone asked him why he bought it, his answer was kind of funny , he still doesn’t really understand Bitcoin, even though he owns a large amount.
Cnversation with Hrvoje Prpić at that meetup was recorded and uploaded to YouTube. Someone really shouldve orange pilled him and explained what Bitcoin is

https://www.youtube.com/watch?v=0Lh-5iHM8bA

[Ambatman]

The same reason why most average or a little above average didn't buy.
Many never trusted it would survive
And those that believed in it's potential went around in building something around it
More like being pioneers.


Besides if a billionaire has gotten quite a number of Bitcoin around Say a million Bitcoin
Many would consider it a Damocles sword.

[Ojima-ojo]

Someone who already have a multi billions dollars won't be thinking of investing in Bitcoin, most billionaires don't have trust for Bitcoin and at the same time may not have the time to monitor and go through Bitcoin investment stress any longer since they are already stinking rich and have e successful businesses already.


The average class and youths are the most fan of Bitcoin, and not the old rich fork's, those guys will only gamble with Bitcoin Price for short term profits, and they don't have long term investments plans or trust Bitcoin to survive for a life time.

[m2017]

There are billionaires worth over $100 billion, and even more worth between $10 billion and $100 billion. So why haven't any of them bought most of the bitcoins? They could have done so, for example, in 2020, when the price of bitcoin was $5,000-$8,000. Bitcoin's market cap is now less than $2 trillion, and it used to be even less. Some multi-billionaire could have bought at least 10% of all bitcoins, but why hasn't anyone done so?

We don't know for sure, maybe some of the millionaires-billionaires have already bought bitcoin, and we don't even know anything about it. They don't need to count in front of others. This purchase may not have been direct.

And anyway, why did you start this conversation? Did you want the billionaires to pump the price of bitcoin with their purchases?

Also, the level of trust of billionaires in bitcoin remains unknown. It is possible that they were afraid to invest in this asset due to high risks (in their opinion) in 2020. This is now, when the price of $100k seems obvious, but then, 5 years ago, few (nobody) could imagine that the price would grow from $5-8k to $ 100k. I hope that billionaires are now biting their elbows from lost profits, and they will have to buy bitcoin from small holders at the current inflated price.  

[B-BossMan]

There are billionaires worth over $100 billion, and even more worth between $10 billion and $100 billion. So why haven't any of them bought most of the bitcoins? They could have done so, for example, in 2020, when the price of bitcoin was $5,000-$8,000. Bitcoin's market cap is now less than $2 trillion, and it used to be even less. Some multi-billionaire could have bought at least 10% of all bitcoins, but why hasn't anyone done so?

If I may ask, do they really need it?
Some of us are buying Bitcoin for benefits or interest rather than as multi-billionaires. I don't think they would really have time for mining or investing in cryptocurrency, although some will not even give a damn about the cryptocurrencies, and if a multi-billionaire decides to buy all the Bitcoin, the market wouldn't be funny, which I don't think it will even be possible to do due to the risks of investments. Moreover, a multi-billionaire will not only depend on one asset.

[Plaguedeath]

Imagine you earn $100 Billion after working for 30-50 years, then something new exist, would you want to spend at least $1 Billion in Bitcoin?

I think filthy rich old people prefer to slow down instead of being aggressive, they already have enough money and they choose to retain their wealth instead of risking to earn more.

It's always easy to compare the present with the past, if Bitcoin price is currently $117K, can you give a guarantee if the next supercycle Bitcoin price will hit $300K?

[knowngunman]

Do you think Bitcoin is an organisation, entity or a football club that billionaires would be interested to buy a share? Every billionaire you see out there already has investment somewhere that fetch them that money in the first place and you shouldn't expect them to diversify a large sum of money to a new investment like bitcoin that possess high risk.

The first thing to consider when investing in Bitcoin is to risk what you can afford to lose. Do you think some of them can afford to lose 10% of their assets at a go just because they are rich?

Again, is investing in Bitcoin not by convenient again but by how rich you are? I'm sure we have some of them who already invest some percentage of their assets and some who are not comfortable with it.

[Wapfika]

There are billionaires worth over $100 billion, and even more worth between $10 billion and $100 billion. So why haven't any of them bought most of the bitcoins? They could have done so, for example, in 2020, when the price of bitcoin was $5,000-$8,000. Bitcoin's market cap is now less than $2 trillion, and it used to be even less. Some multi-billionaire could have bought at least 10% of all bitcoins, but why hasn't anyone done so?

Because they already have companies and investment that give them profit that put them to Billionaire positions. They don’t need to venture on other assets if their current investment is already enough to generate good amount of profit.

I believe we have higher chance to attract millionaires and retails rather than billionaires to invest on Bitcoin because we are still willing to risk a lot for a huge gain.

[BenCodie]

Billionaires are buying a huge share of Bitcoin, it's just not noticeable because they do this strategically usually with OTC (over-the-counter) trades to prevent buying at premiums in spot markets.

To elaborate, for a billionaire to be able to buy Bitcoin responsibly (which they almost always do), they have the option to:
- Spread their funds across exchanges to be able to buy from the order book gradually (requires a lot more time, patience and trust in multiple custodians)
- Conduct trades over-the-counter (OTC) trades, which are off-market trades that don't generally effect the spot price.

It's more attractive for billionaires to accumulate with OTC trades in comparison to if they were to buy directly from an exchange.

If you're wondering something like "What if a billionaire already had a lot of Bitcoin, wouldn't they want to buy a lot of it on-market to push the price up?", the answer is that Bitcoin's market cap is over $2 trillion. It would require a lot of buying power and strategic execution across international exchanges to make this happen, and it's a gamble that it would work to begin with. It would be similar to saying "What if a billionaire had a lot of silver, wouldn't they want to buy a lot of it on-market to push the price up?" (I use silver as an example because its market cap is similar to Bitcoin, around $2 trillion). The answer to both is that, if it could be done, it would be done (or maybe, it already has been done, and maybe, it might happen again! )

[Outhue]

Its because they are smart, diversification is something the rich don't play with, they knew that anything is possible, any investment can go wrong so even if they have 100 billion in dollars they will take small risk until they have a very big confidence that Bitcoin will do well in future, that's where they go in big.

Just because there are many billionaires in the world doesn't mean they will all be in Bitcoin as investors, many don't see the need and some are just fine with how they make their money, warren is one good example, he is old school and he is very careful around Bitcoin.

Till this day I doubt if he still invest in Bitcoin, even if he did, believe me he goes in with small amount of money, I can't blame him because he might not see what others saw in Bitcoin, still he maintained his richness very well.

[Forever101]

What if I do this, what will I get in return knowing well that I own greater share of bitcoins, that exactly won't go well with small investors because any time I pull out , there will be a significant shake on the market.

[OcTradism]

There are billionaires worth over $100 billion, and even more worth between $10 billion and $100 billion. So why haven't any of them bought most of the bitcoins? They could have done so, for example, in 2020, when the price of bitcoin was $5,000-$8,000. Bitcoin's market cap is now less than $2 trillion, and it used to be even less. Some multi-billionaire could have bought at least 10% of all bitcoins, but why hasn't anyone done so?

They were rich as millionaires, billionaires from something else rather than from Bitcoin, and they have been already rich enough to have no need of taking high risk. At least if they see Bitcoin as a risky thing even with good ROI over years since 2009, they would stay beyond this market.

Fortunately, you can see - I believe many people know about it too - a trend that more and more institutional investors joining this market. With Spot ETF approvals in January 2024, the last year, more institutional investors came and since then, there have been many days with not enough new mined bitcoins from new Bitcoin blocks to meet buying demand of Bitcoin Spot ETFs.

[Smartprofit]

The fundamental value of Bitcoin is precisely in its decentralization. At the same time, Bitcoin decentralization consists of three components - decentralization of mining, decentralization of storage and decentralization of development. If one multi-billionaire buys a very large number of coins, then the principle of decentralization of Bitcoin storage will be violated. Accordingly, the fundamental value of the first cryptocurrency will fall, and then the price of Bitcoin will fall. Most multi-billionaires understand this. Some of the multi-billionaires may not understand this, but they realize that if they start buying a large number of coins from the market now, the price will start to grow very quickly. No one wants to buy a financial asset at a very high price. However, the most important thing is decentralization. Bitcoin must belong to different persons (individuals, organizations and states) and the more such persons there are, the greater the value of Bitcoin will be.

[Reatim]

Simple, they don't have enough conviction to buy it and back then when BTC was still priced low there were no ETF, etc that can improve the legitimacy in their eyes.

honestly not being able to buy back then is excuseable but now? it is hard to excuse someone with lots of money who won't buy bitcoin because why not? i would love to hear their reasons for it and if it is other than "it's not allowed in my country" i might find it ridiculous