Cryptocurrencies are expected to take over the global monetary systems in the next decade or so, and without a doubt, Bitcoin will be the most dominant of all digital currencies. This is why many wealthy and powerful individuals and entities are in a bid to buy much Bitcoins as possible.
Recently, crypto investment and broking firm Dadiani Syndicate stated that it was approached by a client who wanted to buy 25% of the total Bitcoins in supply. The broking investment firm is a peer-to-peer network to buy and sell cryptocurrencies. Founder of Dadiani Syndicate, Eleesa Dadiani said,
One of our clients approached us and said they were interested in acquiring 25% of all bitcoin currently available. There are a number of entities who want to dominate the market. A buyer of this size is going to push the price up to make this kind of accumulation even more expensive. Yet even a greater number of coins are currently being held by hodlers who will not be willing to part with them for any price.
Dadiani further added that about 17.7 million Bitcoins are in supply as of date, and if a single buyer targets buying 25% or roughly over 4 million BTC at once, it would seriously impact the market. However, she stated that realistically, there are only 5 million BTC in circulation.
The primary aim of Satoshi Nakamoto for creating Bitcoin was to create a decentralized monetary system which couldn’t be influenced by a single individual or a group. However, if a person holds even 10%, if not 25, that person would have enough power to influence the market, rendering the entire purpose behind cryptocurrencies futile.
