A billionaire is willing to buy as high as 25 percent of Bitcoin’s current circulating supply and has tasked a broker company, Dadiani Syndicate to make the purchase possible. Eleesa Dadiani of Dadiani Syndicate also revealed that a number of people are interested in buying Bitcoin in large amounts through the company, according to Forbes report on May 30, 2019.
Billionaire Seeks to Buy 25 Percent of Bitcoin’s Circulating Supply
Per the report, someone out there believes that they can afford 25 percent of Bitcoin’s circulating supply and as such, they are willing to make it their very own. At 25 percent, that would mean 4.4 million Bitcoins out of about 17 million that are currently in circulation. The potential buyer has, therefore, instructed Dadiani Syndicate to scour the market in order to lay hold of coins.
Dadiani Syndicate, the broker company in question, was created to help people to liquidate their crypto assets to real wealth through the use of art dealership methods. However, people are more interested in amassing Bitcoin in a bid to control a larger share of the market.
Clients Wish to Dominate the Bitcoin Market
According to Eleesa Dadiani, a number of clients wish to dominate the market and they usually ask for their assistance in buying enormous amounts of Bitcoin. She also hinted that they are majorly interested in Bitcoin instead of Ether or any other major cryptocurrency which poses some level of difficulty in acquiring the virtual currency in bulk when compared to other assets.
Based on this, it could also be hard or impossible to lay hands on 25 percent of the circulating supply especially when 10.5 million Bitcoins out of 17 million have not moved in a year. If it were possible, it would mean that the crypto space will only control about 2 million while the billionaire lay claims to about 4 million. The next thing one may imagine is what could happen if they wake up one morning and decide they no longer want their Bitcoin. Not a pretty thought.
Wealthy individuals, institutional investors, etc. are gradually dipping their feet into the crypto space. The likes of Bakkt and Fidelity Investments are trying to create products that will attract wealthy individuals into the crypto space.