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Billionaires Are Buying Bitcoin, And Not From Where You Expect

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Why Bitcoin Is Still The Leading Cryptocurrency When It Comes To Cryptocurrency Trading

When it comes to trading cryptos, many people turn to exchanges for buying and selling digital assets. However, a new form of the crypto market seems to be emerging from the entertaining scenes of the arts industry. In fact, this new trading method, introduced by one Eleesa Dadiani, seems to be attracting the biggest fish in the tank – the billionaires.

It’s A Syndicate

Dadiani is an art dealer and has an office down in Mayfair where she runs the Dadiani Fine Art. A few years ago, Dadiani dabbled into cryptocurrencies and eventually started trying to meet her investors’ demand for trading fine art using Bitcoin. That’s how the Dadiani Syndicate was born.

Eleesa Dadiani now runs Dadiani Fine Art and the Dadiani Syndicate under one roof. Sometime last year, she partnered with a blockchain company, the Maecenas Fine Art, to facilitate crypto cashouts. Soon, the syndicate started receiving requests from wealthy people to facilitate the accumulation of digital assets, primarily Bitcoin.

They’re Buying  25% Of The Bitcoin Market

According to Eleesa, the Dadiani Syndicate has received a request from a billionaire who wants to buy as much as 25% of the total Bitcoin supply. That’s about 4.5 million Bitcoins worth over $38 billion. It’s notable that about the same amount of Bitcoins is currently assumed to have been lost. That makes the 4.5 million Bitcoins quite a huge chunk of the total circulating supply.

Avoid Exchanges

Obviously, such a large purchase would most likely upset the market if done through other channels like exchanges. That’s why Dadiani’s company and its clients avoid exchanges and opt for one-on-one (P2P) trading instead. The company’s job is to link the buyer to the seller and get a commission from the trade. The Dadiani Syndicate is currently on its 4th trade running into millions of dollars, with numerous transactions happening every day.

Bitcoin

J.K. Rowling and Elon Musk Engage in Twitter Conversation About Bitcoin

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J.K. Rowling and Elon Musk Engage in Twitter Conversation About Bitcoin


Just recently, the CEO of SpaceX – Elon Musk took to Twitter to reveal his current holding of Bitcoin. The conversation ensued during an effort to educate British author and film producer – J.K. Rowling on the subject of cryptocurrencies. Following a tweet originally referred to CoinDesk’s senior reporter – Leigh Cuen by the Orator of the Harry Potter fiction on Saturday, for an explanation to bitcoin’s operability.

J.K. Rowling subsequently received Musk’s reply among several others from Bitcoin’s advocates and cynics alike; such as the co-founder of Ethereum and Bitcoin Magazine– Vitalik Buterin, among many others. Notably, the author’s tweet drew some attention to the tune of 2,800 replies, as at the time of writing.

Furthermore, the co-founder and CEO of Tesla, Inc., emphasized that the bulky issuance of currencies by the central banks of various economies is making the digital currency – Bitcoin, more solid in juxtaposition to fiat. Musk also went on ahead to convey his views towards digital money as being positive, even though he currently owns a quarter of a Bitcoin as stated in his tweet that reads;

“I still only own 0.25 Bitcoins btw.”

Yet, Cuen replied Rowling with a reassuring statement while providing her with guides to sample use-cases of Bitcoin. Cuen stressed this in a tweet with the message;

“Hi! My D.M.s are open if you want to chat w/out onlookers. The very short version is: Bitcoin is money fueled by a community of contributors. There is no king or central bank in charge. There are countless stories we can use to explore the ethics of a world w/global currency.”

Albeit, Rowling expressed her discontent with regards to the explanations she received, as her curiosity rapidly became debased by the myriad of responses she received. She disclosed her uneasiness towards the topic in question – with a bit of sarcasm while tweeting the following;

Another noteworthy reply is that of Vitalik Buterin, who added that;

“It is a digital currency. There’s ~ 18m units of it. It is not backed by anything, it’s just valuable because it is, like collectibles. There’s a network of computers (which anyone can join) that maintains a decentralized global excel spreadsheet of how many coins each person has.”

Although, Rowling might have admitted being woozy before publishing these tweets, however, her views on the digital currencies and Bitcoin are unlikely to change when she becomes sober or in the foreseeable future.

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John McAfee Doubles Down On His $1 million BTC Price Prediction. This Time Raising The Bar, Predicting $2 million Before 2020’s End

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John McAfee Doubles Down On His $1 million BTC Price Prediction. This Time Raising The Bar, Predicting $2 million Before 2020's End

You probably will think John McAfee has lost his mind with his predictions. Firstly, a $1 million BTC price, now $2 million before the end of 2020. However, taking a critical look at things fundamentally, some few factors may drive his prediction to come about.

John McAfee, who’s so sure of his prediction has in the past said he would feed on his genitals on national TV if it didn’t come to pass. In his recent forecast, Mr. McAfee, who’s undoubtedly convinced of his position said;

“If Bitcoin is less than $2 million by the end of 2020, then mathematics itself is a flawed disappointment.”

Nevertheless, here are a few factors that could see John McAfee’s outrageous prediction come true.

#1. 2020 Bitcoin Halving

The 2020 bitcoin halving is probably the most anticipated event for bitcoin holders investors. The event, slated for May 2020 would see bitcoin’s reward slashed into two – from its present 1,800 daily rewards to 900. When this happens, it’s expected that the value of bitcoin rises drastically as the asset becomes more scarce.

#2. Global Recession

Countries such as Venezuela is on top of the list of those facing economic turmoil. This situation leaves its citizens looking for a better option – a way to preserve their wealth from drastically declining in value.

It has led to a lot of people seeking refuge in bitcoin. However, Venezuela isn’t alone in this, and if more countries join in, the value of bitcoin could rise exponentially.

#3. Institutional Investors

Another factor that could propagate bitcoin’s adoption would be when Wall Street fully takes an interest in bitcoin. At the moment, things are starting to light up from this angle. Bakkt’s launching, though having a sluggish start, without a doubt has begun to receive some attention from institutional investors.

As reported by ZyCrypto, there was a glimpse of interest from institutional traders when trading volume on the Bakkt exchange reached 224 BTCs on Wednesday, 9th October 2019. However, a full adoption by these investors is expected to give bitcoin’s value a considerable boost.

#4. Bitcoin’s Scarce Nature

Bitcoin is scarce by design. There are only 21 million of it that will ever be. Unlike fiat, where millions are printed periodically, the world is literally fighting to have a piece of the bitcoin pie. It means having it at any price. This demand would, therefore, drive bitcoin price high, several percentages.

While all the above mentioned are true factors that may drive bitcoin adoption, and its price high, a $2 million price prediction for Bitcoin may seem like an over-exaggeration. However, only time would tell as the world watches events roll by.

Let us know what you think in the comment box below.

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