Yeah that's my point - I believe billionaires have been buying bitcoin for years. A high percentage of the elite already own bitcoin.
If that were true, don’t you think the price of BTC today would be much higher than it really is? If elites (billionaires) really bought BTC, then it would be very visible on crypto exchanges that would be far less liquid than it is today - because I have not heard of a case where someone failed to buy BTC because there is a shortage on some exchange.
Regardless of the fact that the BTC supply is limited to 21 million coins, and that it seems very small to some people - there are still large (millions of coins) in the open market, but also in the OTC market.
Being rich and being elite is not always a sign that someone is intelligent, because there are those who have inherited wealth and do nothing with it except spend it. Consequently, I don’t think these elites took BTC seriously until the bull run in 2017 - nor did many ordinary people.
I agree, billionaires have only started to take interest in Bitcoin. As you said before
Lucius, anything under $100,000 is a bargain but unfortunately the higher the
Bitcoin price goes the less ordinary people can afford to buy, not really relevant for
the elite so that way Bitcoin does increase inequality, but what financial or investment
vehicle doesnt?
This thing about wealth equality and wealth distribution doesnt work, at best it would
work for a short time. Some people will earn more than others, some will spend and save
more than others, does that mean there should be wealth redistribution every 5 years?