Comment by adventured
7 days ago
An estimated 22,000 addresses, 1.1 million Bitcoin. Present value $78 billion. That would make him the 23rd richest person in the world. Bill Gates by comparison is 'only' worth $102 billion these days.
If you priced Gates backwards in gold, his $102 billion is about $13 billion two decades ago. He hasn't kept ahead of the destruction of the dollar very well.
> He hasn't kept ahead of the destruction of the dollar very well.
That hasn't been his goal. For the last two decades he's been running a huge charitable foundation...
Is that what they call visiting private islands these days?
It's a pretty well known entity. You can find more info here: https://en.wikipedia.org/wiki/Gates_Foundation
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Was that in between his visits on Epstine island?
Sure. Al Capone did a lot of charitable work too.
Someone can do more than one thing.
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1.1m Bitcoin is currently $77B not $7B.
Gold is a weird one. It’s has a hell of a run over the last decade. I’m not sure it looked so rosy in 2015. I kinda feel like betting on gold is betting on the end of civilization. I don’t really want to be right.
Lmao, it's $70B+ brother. Zeros aren't for everyone. :")
At the time of writing this the USD price of BTC is $70,934.09. 1.1m times that is $78,027,499,000 or $78B.
> He hasn't kept ahead of the destruction of the dollar very well.
The dollar is trading pretty much at 30-year historic highs relative to all other currencies. You have to go back to ~2000 to find a stronger era, and then the 1980s before that.
https://www.marketwatch.com/investing/index/dxy
They're talking about the decline in the purchasing price of a dollar over the past decade, not its value relative to other currencies at the moment
I don't know how you know that, but even that argument is a straw man, unless you're asserting that all of the other currencies declined in value equally against whatever theoretical good(s) you're holding out as the objective standard for value.
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> He hasn't kept ahead of the destruction of the dollar very well.
You can't price dollars in gold to measure value. Gold doesn't measure value better than the dollar at any point in time, let alone over time. Just use the price index for one currency, or the relative price indexes across currencies.
I broadly agree with you, however: during the classic gold standard years, gold did have a pretty stable purchasing power (as eg measured by your favourite inflation index) in the long run.
However, since the world largely went off the gold standard, the purchasing power of gold has been a lot more volatile.
If any of those addresses sold a single sat the price would crash hard.
I would bet heavily against that.
Someone selling single Satoshis from Satoshi's stash would herald the second coming of Satoshi. Can you imagine the hype?
Hype would not cause a price increase in this case. The value of bitcoin is partly due to scarcity. 1.1m previously inaccessible bitcoins suddenly becoming liquid would cause a drop in price, even if they were sold slowly. It could also cause panic selling as it might indicate the wallets have been brute force cracked.
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Biggest pump and dump in history