Dadiani Syndicate investment company reported that it was approached by a wealthy client who wants to buy 25% of all bitcoins (BTC), as reported by Forbes.
Dadiani Syndicate is a p2p network where clients trade with each other with cryptocurrency. It attracted some attention in media when it put up for sale 49% of Andy Warhol's 1980 work "14 small electric chairs" for bitcoin and other digital currencies.
Acquisition of a quarter of the current volume of 17.7 million BTC is impossible without a significant impact on the market, given that many coins have been lost forever. Mati GREENSPAN, brokerage eToro's senior market analyst, commented on this news:
“A buyer of this size is going to push the price up to make this kind of accumulation even more expensive.<...> A greater number of coins are currently being held by hodlers who will not be willing to part with them for any price. Realistically speaking, there are probably less than 5 million coins actually circulating at the moment.”
It seems that many potential investors who want to control most digital assets become obsessed with the idea. The latest report from the research firm Diar says that the whale’s wallets contain more than 26% of all current Bitcoin — about $36 bln at the current exchange rate.
Image courtesy of News.Bitcoin.com