5 ms·
10% is far too much of his net worth for a pump-and-dump. A much more reasonable use case for holding ~1B worth of BTC for a man like RSP (Ricardo Salinas Plieg
by el_nahual 5y ago
10% is far too much of his net worth for a pump-and-dump. A much more reasonable use case for holding ~1B worth of BTC for a man like RSP (Ricardo Salinas Pliego) is as insurance against having assets frozen or nationalized.
A man like him is sufficiently diversified in asset holdings that he doesn't really care about the fluctuations of any one (property, businesses, fx), but he very much cares about the government deciding to freeze his accounts.
It's an enormous irony (if a predictable one) that the biggest buyers of a "control your money!" story are not your wacky libertarians living in the forest, but the ultra, ultra rich, especially those who obtained their fortunes in marginal ways.