There are billionaires worth over $100 billion, and even more worth between $10 billion and $100 billion. So why haven't any of them bought most of the bitcoins? They could have done so, for example, in 2020, when the price of bitcoin was $5,000-$8,000. Bitcoin's market cap is now less than $2 trillion, and it used to be even less. Some multi-billionaire could have bought at least 10% of all bitcoins, but why hasn't anyone done so?
1.It isn't that easy even for a multi-billionaire to gather tens of billions of dollars in cash and liquid assets. There are capital gains taxes and selling large chunks of stock shares would crash the stock prices of many big corporations.
2.Buying 10% of all BTC isn't that easy. The buyer would have to negotiate with big crypto exchanges and even try to buy BTC from as many small BTC HODLers as possible. This requires a big team of executives.
3.Buying 10% of all BTC is several transactions would pump the BTC prices, which means that after every purchase, the multi-billionaire would have to pay more and more for the same amount of BTC.
4.Most multi-billionaires aren't fanatic crypto supporters, and most of them aren't very motivated to multiply their wealth. What's the point making another 100 billion, when you already have 100 billion?