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Topic: 2,300 billionaires, each holding $600m of cash on average - page 3. (Read 3616 times)

legendary
Activity: 3920
Merit: 2349
Eadem mutata resurgo
The reason they are holding so much cash is because they do not want to take investment risks with their money. Bitcoin is anything but a sure thing so I would say it is unlikely that someone holding cash would want to take the risks of price declines of bitcoin.

The longer bitcoin stays around, the more widespread it becomes and the higher it goes in price the  greater risk switches over to a risk of being left holding endless, worthless fiat promises ... network effect of money is covered by game theory (store of value function not medium of exchange).
hero member
Activity: 756
Merit: 506
 Never thought it was $600 million - I wonder how they got that number?  I'm reminded by people like Donald Trump who declared bankruptcy multiple times and almost declared personal bankruptcy due to being asset rich and cash poor.


Although I can understand millionaires holding onto a lot of cash.  Real estate and the stock market could undergo a huge correction and it would be a shame if you lost most of your net worth and had to return to being one of the "peasants" and work some 9-to-5 (ex millionaire suicide is rather common).
sr. member
Activity: 420
Merit: 250
The reason they are holding so much cash is because they do not want to take investment risks with their money. Bitcoin is anything but a sure thing so I would say it is unlikely that someone holding cash would want to take the risks of price declines of bitcoin.

Billionaires generally do not have the same problems with sending money cheaply that "normal" people do that makes bitcoin attractive to most people
sr. member
Activity: 490
Merit: 266
Be great if some of this money started flowing into Bitcoin




http://rt.com/business/190100-billionaires-hoarding-millions-cash/


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