written by reader Bitcoin

By tom, January 5, 2021


My question is if they are only making 21million bitcoins? Please explain to me what keeps the wealthiest people from buying all the coins?
another question is how can bitcoin be used if they are all purchased by huge corporations or wealthy people?
the question seems a bit silly but I think about it.
any help from people who understand bitcoin I would appreciate your thoughts
thanks
Tbabe

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oscrlainez
Irregular
January 5, 2021 6:56 pm

First, the wealthiest of people cannot own it all because it is already distributed among the population of early investors and retail crypto buyers also those who mine the coins. Now we have ongoing funds trying to buy them up in order to balance out their portfolios with coming trends. It is impossible for any single individual to buy them all, as the markets are open 24/7. Bitcoin is used in bits, otherwise known as satoshis. In general, bitcoin is an amazing concept and already has taken a huge market cap within our life and thus I feel it will only grow more. Don’t get me wrong though, these trends can have massive crashes and are extremely volatile.

Sadly, I own no bitcoin or other major coins (too pricey for me for now). I am hopeful I will learn here and gain some benefits out of all the long term investors here. I am skeptical about everything but can’t be afraid otherwise there will never be growth.

Good luck Tom!

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