EDIT: It's a psychology thing. They either wanted to gain more BTC (rpietila admitted this and I did so too) and/or hedge on possible BTC failure. Are you kidding me? This is expressing so little faith in Monero, if an alt has any chance to succeed it needs fanatics who aim at No1.
Please link where I have said my aim is to gain more BTC? If I read my mind correctly, it has not been my aim since summer-13.
Hedge is something I have talked about. USDXMR in my understanding would immediately gain a lot if something serious happened to Bitcoin, making it a perfect hedge.
I also believe Monero has the chance of taking over Bitcoin.
I'm not being purposely difficult, and I believe that you mean what you say, but XMR will not take over from bitcoin. Or rather, if XMR takes over from bitcoin, it will be in a drastically different crypto market, in which the potential for cryptocurrency to becme mainstream had been reduced to near zero.
People, Joe and Jill Public, don't want cryptonote. They might go for another alt, but it will be easy to use and they will want to be able to track their money and to prove it to the authorities.
XMR over taking XBT may or may not happen. What is not the case is that XMR overtaking XBT means that end of crypto-currency, crypto-currency not becoming mainstream, or that those holding XBT will be left "holding the bag". The history of credit cards indicate the exact opposite is the case. American Express had a significant first mover advantage over VISA and MasterCard. This has not meant the end of credit cards, or credit cards not becoming mainstream. Furthermore those who invested in American Express in the early 1970s and
did very well.