Bitcoin (BTC) is an extremely limited asset, with a cap of just 21 million and a circulating supply of 17,738,662 bitcoins. To put it in perspective, there isn’t even enough Bitcoin for every millionaire in the world (19.6 million) to each own one.
Clearly, Bitcoin is in high demand, and it’s unlikely that the world’s wealthiest people would be able to accumulate a large chunk of its supply, even if they wanted to.
According to a report by Forbes, Bitcoin is being made even scarcer thanks to a multi-billionaire who wants to buy a jaw-dropping 25% of its supply, which is 4,434,665 BTC worth over $38 billion at the time of publishing.
Bitcoin Is in High Demand
As reported by Forbes, Eleesa Dadiani, an art dealer who launched a decentralized art gallery on the Ethereum blockchain to sell fine art for Bitcoin and other cryptocurrencies, has seen demand for her service soar.
The first piece for sale on the platform was sold to a hundred people who bought fractional shares for a 49% ownership stake in the painting.
Now, following the success of Dadiani’s first platform, she is rolling out Dadiani Syndicate, a peer-to-peer digital asset platform for extremely rich buyers. It began as a way to offer people a path for cashing out of their crypto assets, but unsurprisingly, Dadiani found out there was a high demand for the opposite service.
According to Dadiani, one of her clients isn’t interesting in art but rather wants to buy 25% of Bitcoin’s circulating supply.
“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.”
However, as mentioned above, this amount of Bitcoin would be extremely difficult if not impossible to buy due to the limited supply and hodler mentality of Bitcoin holders.
As stated by Mati Greenspan, the senior market analyst at eToro:
“Realistically speaking, there are probably less than 5 million coins actually circulating at the moment.”
