but remember this; there are 12 million millionaires in the world, and 1500 billionaires. there are only 21 million bitcoins, and I imagine most of those people dont have any.
This thought occur to me as well. What to do for millionaires?
Ignore bitcoin and try to eliminate it OR try to slowly accumulate some?
I hope for scenario #2.
The numbers I have seen indicate 29mil millionares with total capital of $89 trln (89X10^10).
1% of of 89 trln is 890bil.
So, 13-14 (2014-2015) mil bitcoins have to reach 890bil in order for millionares to allocate 1% of their capital to bitcoin.
As such, bitcoin HAS to reach $63-68K/BTC, otherwise not enough value to allocate even 1% of millionaire's capital.
If you count based on a full 21mil of bitcoins with later allocation, then minimal value is $42K/BTC.
yeah, I dont think they can just ignore it, though some may try.
they know all too well that their millions could be gone in a day.
the rich must diversify.
I really see a panic buy situation in the not too distant future. some of those rich people are smart, the first few to buy in will double the value. thats a huge advantage to the rest.
Standard Bank in South Africa has flerted with the idea of bitcoin adoption - to serve customerslike an exchange(it is needed in SA). who owns most of that bank? Chinese!
the first banks to adopt will cause a huge wave. if you cant beat them, join them.