“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.”
So says Eleesa Dadiani (pictured) of the Dadiani Syndicate according to Billy Bambrough, a writer for Forbes.
She is the founder of the Mayfair based Dadiani Fine Arts Gallery in London’s Cork Street which began accepting crypto payments in 2017.
The Dadiani Syndicate further collaborated with Maecenas last year to tokenize Andy Warhol art.
Initially the syndicate was founded to facilitate the conversion of crypto wealth into “real” wealth through the art dealership methods.
“But we found there were people who wanted us to assist them in buying enormous amounts of bitcoin,” Dadiani said.
That would be 4.5 million bitcoin out of the current circa 17 million that have been mined. However, 10.5 million bitcoin has not moved in a year, so it would be very difficult, if at all possible, to buy 25% of all bitcoins.
Dadiani thus claims her company has been instructed “to scour the markets and gain access to as close to 25% as possible.”
We emailed to confirm she in fact has claimed so, but have not yet received a response. We also called, but she was not immediately available. Will update if that changes.
The syndicate focuses on arranging big buys and sells for very wealthy individuals or institutions utilizing the pipelines used in the art dealership world.
They’ve now moved to crypto and “at the moment, people just want to buy bitcoin,” Dadiani says, adding:
“There’s little interest in other cryptocurrencies but we have not been doing this long and would be open to others in the future if clients wanted it.
If someone wants large amounts of ether or another major cryptocurrency, we would likely be able to find a seller.”
She further says that “art and cars are a small industry, bitcoin and crypto is something different.”
The above does remain unconfirmed, but family offices, wealthy individuals and even institutions are now moving into crypto as a hedge, for diversification purposes or to secure a position.
The current bitcoin market cap of $150 billion is as much as the wealth of just one man, Jeff Bezos of Amazon. It pales in comparison to the market cap of just one company, Apple, which is at more than a trillion. And it is hardly a fraction of the global stock market cap of circa $100 trillion.
Whether billionaires will be able to get 25% of bitcoin’s supply, however, remains to be seen as much of it is hodled.