Bitcoin is one of the most unequally distributed assets in the world, with just under half a percent of all bitcoin investors owning more than 80% of all bitcoins, and should they liquidate, the market could see a substantial sell-off, said Ryan Giannotto, director of Research at GraniteShares ETFs.
0:00 – Bitcoin is 'cornered'
5:50 – Bitcoin's volatility
8:17 – Bitcoin ETF coming soon?
11:44 – Economy, inflation, and gold
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I’m not sure if Bitcoin was ever designed to be a “democratizing force” that would be equally distributed to everyone.
Obviously Satoshi knew that some people were going to get it before others and that those people would get the biggest slice of the pie. It will revolutionize the financial system, but no one ever said that everyone is going to get an equal amount.
There is a large segment of the population who just unthinkingly believe that “eddyting shuld be distibuted equally amung eddybody.”
@Roadrunner The same people who didn’t mine and/or take risks investing in it.
Agree, This is what a Bitcoin Grabbing Far Left Socialist Sounds Like…. That 40% should be re-distributed to the people, so it can be a main stream investment… bla bla. If we could just somehow figure out who owns it…bla bla. What Comes Next is “Bitcoin Must Be Made Traceable & Linked to A Identity”(Read , We’re not Taxing you enough) The Education System has been controlled by the Far Left for Decades, Is it starting to make sense now?
This case can be made for almost every asset.
BULLSHIT
The accounts with 1,000 bitcoins or more has been substantially growing in the last year. These are large institutions and wealthy investors getting in. Eventually it will be more dispersed.
Very informative. This is the first time I’ve heard that 84 percent of BTC is concentrated in the hands of 0.5 percent of the holders.
@Brad S 45% of gold is in jewellery which is heavily decentralized. Also 280trillion in world real etate is owned across some 1 billion people mostly. Vatican owns about 15 trillion of land and qeen of england some 0.1 trillion , but the rest is not that hugely centralized as bitcoin
Bitcoin was the buy of the century in 2012. I missed it but won’t touch it now. Gold and silver are real money always
@Ben might? Bitcoin is fixed supply so could keep going up. Clearly wish I bought it in 2012 but won’t touch it at $36k
Well ya obviously missed the gains of 2012. But even at its price now there is potential 10 , 20 & 30x gains possible in the future. That’s what some millionaires billionaires and institutions have finally figured out and these are some pretty smart investors. I would bet on them being right. But it’s good you know your risk tolerance. But ya could just dollar cost average a small amount at these prices just in case these smart investors with a lot more capital at stake end up knowing what they are doing 🤷♂️
@Ben Yeah but for every win on btc there is an equivalent loss somewhere. Not everyone can win on it.
@Simon H if you just buy it and don’t trade it. Your guaranteed to make money on it. You think Tesla and all these other super wealthy companies buying it are planning on loosing money on it? If you buy and hold 10+ years your laughing. Most people are too short minded. Sell it early or trade it and loose. Your right there will always be those people.
@Ben 10 years lol btc will be done and dusted by then like Rubik’s cube or tamagochi. Honestly. Right now it is crashing. It lost 10% in under an hour. It’s under 53k and Thursday it was 65k. That is just insane. Looks like Tesla is dumping already.
David Lin – always the absolute pro interviewer! And really showing his chops interviewing a young nepotism-jobber who’s just discovered cocain.
amazing comment mate !
Hahaha
@ Narwhal Tacos Ha ha my thoughts exactly! Didn’t want to say it but you hit the nail on the head!
When he said “we haven’t seen this before” I was thinking “that’s because you were either still in nappies or so coked up you wouldn’t remember it anyway” 😂
100%
Hahahahhahahah
Does this mean that any major holder of Bitcoin could effectively destroy the value of the asset by simply flooding the market, or, crash the market, buy up big and ride up again?
David a thumbs up👍
You were laughing, good smile, demonstrating your knowledge and admitting on the side you were wrong eg about btc volatility. The interview was fun. Good to see your own personality coming through.
i always respect David to stay objective. he asks really poignant questions. this is what sets him apart from other channels
Strong liquidity is extremely important in any asset class. You need to be able to realize the market price when you want to sell. If liquidity is low then there is a good chance that not enough buyers are lining up to fulfill the sell orders. This happens in certain stocks, people get trapped in a trade unable to realize the quoted price so have to keep discounting till they find a buyer. This is a major issue with Bitcoin however not one that bitcoin investors want to discuss. I usually get a fanatical “It doesn’t matter because I’m never selling” ….what’s the point of owning then?
Don’t see it happen, too many have bought in..from miners to companies to investors. The ecosystem won’t let if fall. It’s gonna go up.
They said the same about tulips. Except tulips today are a multi billion dollar industry.
@Craig they didn’t. Everyone knew it’s a pump because the asset is finite for some time and inflated by demand. No sane analyst said it would go up forever…
David, you have grown so much as interviewer. Well done.
How is this worse then the 1% owning everything?..
*than*
Because this is 1% of Bitcoin owners which is like 0.00001% of the population.
Same same. So you do the one thing the 1% don’t want and buy physical silver. Not paper fake. Get the physical and the shorts will be wiped. They have to much power to be overrun in the fake Comex market. Buy physical silver and soon the reality will catch up wit the fiction. You won’t even need to sell – just swap for AU when the ration goes below 40/35 to 1. And it will!
@Alexander Kosta thanx someone gets it
The 1% owe true things so they don’t feel the need to sell it.
The crypto whales own nothing except vapor dreams for the suckers so they urge to sell this dream for true moneys. And they can do it indefinitely.
I’ve no idea what the future of Bitcoin is. I couldn’t bring myself to invest in it so I admire and congratulate you all who did. You took the risk – you deserve the reward.
Great questions and content! Keep it coming.
This guy makes me want to buy more BTC!
I love it when kitco goes full crypto. I used to just come to you guys for the silver and gold stuff not for my crypto news. I get my crypto news where I’ve always been getting it but it’s funny to see my precious metal guys are getting into it now. One love I was precious metals first, I’m just smarter than leaving at only precious metals in a digital era
The fact that bitcoin was valueless at the beginning shows its true authenticity and uniqueness as an un correlated asymmetrical asset. If it inherently came into existence with a market cap, and a starting stock base price it would be like anything other stock. Btc is permission less, it was a gift from Satoshi Nakamoto that was endured by early libertarians, cypher punks, free thinkers, whole hearted technocrats, and believers in monetary change. A dude exchanged 10000 btc for two pizzas, you had to be strong to hold btc back then not manipulative, and now that it has a value that is out of most peoples range… errybody wanna start trippin. DIS DUDE SECRETLY ADVOCATING FOR BITCOIN, HE JST WANT IT IN AN ETF, he a lil punk LOL hop on phemex, grow som ball hair.
You’re really a great interviewer David. Ryan was very smart, shared great information.
It’s good to hear someone talking about the downsides of Bitcoin. Amidst all the hype, people tend to lose sight of the obvious risk! Digital currency may be the future… however that doesn’t automatically mean that Bitcoin will be part of that future! I predict that centralized governments are going to simply make their own digital currency markets. Like Dollarbits or something similar. The major governments and banking establishments will NOT just lay down and relinquish the power they have over the money and financial markets!