Institutional investors and billionaires are beginning to eye cryptocurrencies and looking forward to becoming whales to control the market, a Forbes report revealed.
Eleesa Dadiani, the founder of Dadiani Syndicate, a peer-to-peer network, reportedly claimed that a client of hers wants to purchase a quarter of the bitcoin currently in circulation.
Dadiani, who is also an art dealer and founder of Dadiani Fine Art, told Forbes that some investors intend to dominate the market. The broker said that a client had approached her wanting 25% of all available Bitcoin.
Dadiani Syndicate acts as a peer-to-peer platform that arranges digital asset deals for wealthy individuals and institutional investors just like in art dealership.
The founder claims that her company had been instructed to search for bitcoin sellers and purchase about 25% of the existing bitcoin for their client. She further revealed that most of their clients wanted assistance in buying huge amounts of Bitcoin.
If indeed it is true that an individual wants to own 25% of the currently available bitcoin, that would be 4.5 million BTC out of the current 17 million that has been mined. However, purchasing 25% of all the Bitcoins would be difficult as about 10.5 million bitcoins have not been moved in nearly a year.
The Syndicate claims that it only deals with clients from reputable banks and receives a percentage as brokers fee for each trade it completes. The platform is currently on its fourth trade, and all of its trades have involved “very large volume” taking weeks or months to complete.
According to Dadiani, investors buying large amounts of cryptocurrencies try to avoid using exchanges to prevent spillage.
People buying large quantities of bitcoin want to avoid slippage. The only way to do this is to avoid exchanges, she said.
The chances of Dadiani’s billionaire getting the 25% of the Bitcoin remains slim as many of the coins will not be mined for a long time and some have been lost and cannot be recovered as well.
Exclusive Offer: Signup on Bybit before Oct 31 and get a $60 bonus on your first 0.1 BTC/1000 USDT deposit to trade crypto.