Billionaires tend to be highly diversified in terms of where and how they hold their money; as economic cycles funnel funds from market sector to market sector over different intervals of time. We see this in real estate bubbles and recessions; stock bubbles and recessions, FOREX and currency exchange rates; commodities as well as futures and options on such.
There's no doubt many, many, billionaires have
"whatever" minute or even noticeably fr actionable portion of their overall net worth invested in Bitcoin. Billionaires who did not amass their wealth as a direct result of their own investment and financial strategies (such as entertainers; inheritance; single business IPO success) have financial teams; firms; and advisors who handle most of this,
because well; a
Billion Dollars is a lot to manage.
And anyone with a Billion Dollars (I personally only know one who is a client / and another in the mid 9 figures so "almost there"); they are
very, very busy with their endeavors. Their time is highly managed. Their money is highly managed. Their life is highly managed.
I'd bet that most of the top 1% of the Top 1%; lets assume overall Net Worth $100,000,000 and up; who do have money invested in Bitcoin;
don't even know about it. While there's no way to directly prove this assumption; however it is something I believe IS happening; and WILL continue to become a problem (likely problem that is); is that
financial institutions(let's for the sake of this example call them Billionaires, which they are); have taken notice.
So the Biggest Billionaire Players in Bitcoin are likely Institutional. The Big Banks in no way want to see any form of fully transparent peer to peer electronic payment system "Come To Be". Whether it be Bitcoin; or any other Blockchain based electronic currency where direct person to person payments are made possible.
It isn't so much that Bitcoin is the threat to the banking system... it's the concept alone of what Satoshi Nakamoto outlined clearly in his Whitepaper.
But the hard truth is that people, civilization, got by for 1000s upon 1000s of years without the use of what Big Banks offer us now in this day and age.
The truth is all of their Selling Points: Buyer Protection; Extended Warranty on Purchases Made with your Black Card; Points; Double Points; Fraud Protection; If Someone Uses Your Card - You're Covered; Frequent Flyer Miles; Hotel Points; Cash Back Bonus Awards; --- All of THAT; is designed to make consumers "buy into" their giant Skim.
I think in general; most financial transactions would continue to operate just fine; on a peer to peer basis. No middle man, no bank.
You buy a car; you go and pay for the car. Any shady car dealer; or a dealer who isn't honest will quickly be out of business for reasons obvious. Good business practices will still prevail.
REMOVE now the middle man. The BANK. The CREDIT CARD.
FORGO the Points, or the Flyers Miles; or the Purchase Protection - You don't even really need... and that is where a "Bitcoin Type" Technology comes in to play; and plays HARD.
The Banks use all these lures as mentioned above to make society believe we need them for "ALL" transactions. But that's hardly the truth. Peer to Peer transactions happen every day; - CASH.
The linchpin is no widely adopted payment system has come to be to allow this form of commerce - cash/peer to peer/no "middle man" -
via the internet, where most trade has gone to and will continue to do so.
With that said; I think that most Billionaires who are buying up Bitcoin are the banks themselves. There are massive hedging opportunities at this point of Blockchain technology's life cycle. We are still at it's genesis.
They are, and will continue to buy Bitcoin, because 50 Million, or 100 Million in BTC is nothing to a huge bank. And they can move those funds into an exchange that offers leveraged trading at 2:1 or 5:1 or 10:1, or even 100:1 and create chaos in the market; making Bitcoin seem unstable, dangerous, and unreliable - which it is at this state in time.
You could sell something to someone for BTC and see a 20% price drop over night, and that's going to take a long time to work itself out.
I personally think Bitcoin is a Buy. I said it was a buy at $300, at $600, at $1000, and I even told a friend I thought it was a Buy at $10,000 before it rose to $20,000.
He said I was crazy. Maybe so.
But if you have money you don't need to access here and now. Buying Bitcoin at today's price; and forgetting about it. Or setting an out price; like any smart investor would - that price (as long as it's reasonable) will likely be met.
But you have to be willing to stomach the ride.
Billionaires understand this. They can park 1M in BTC; and just forget about it. That's what you have to do.
Because Bitcoin; IS a BUY at $8800.
It very well may hit a low of 1/8th that, going under $1000 again. But I think anyone would be foolish to think it wont also see prices much higher. Specifically after the next halving. It will become more and more scarce. Wallets will be lost. Coins burned forever. Every transaction is public. There is zero counterfeiting.
If I had a Billion Dollars; which I don't... I'd park a decent stake and just let it ride. It's got no where to go but up.
LONG term.
Cheers and Happy Saturday Folks!
Strato