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Bitcoin Might Interest Ultra Wealthy Individuals Soon: Prominent Analyst ‘Plan B’

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Wed, 05/20/2020 - 12:00
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Yuri Molchan
Prominent analyst Plan B tweets that part of the great amount of ultra-wealthy individuals may soon get interested in Bitcoin and hints that this may change the BTC price
Bitcoin Might Interest Ultra Wealthy Individuals Soon: Prominent Analyst ‘Plan B’
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Plan B, a prominent analyst and the creator of the stock-to-flow model used for predicting the Bitcoin price, believes that ultra-wealthy individuals (UHNWI) may soon or eventually become interested in Bitcoin.

The analyst hints that should this happen, it may boost Bitcoin adoption and price.

"UHNWI don’t buy 1 or 2 BTC, they buy more"

In his tweet, ‘Plan B’ has mentioned ultra-high-net-worth individuals (with a net worth of over $30 mln).

The analyst says that if they become interested in Bitcoin, they will not buy just one or two BTC, but a lot more. He speculates that should this happen, things may change for Bitcoin radically for the better – for the adoption and the price.

He has written that even if ten percent of those investors turn their eyes towards Bitcoin and decide to buy some would have a large impact on the flagship crypto.

Related
Bitcoin Options Open Interest Soars to 100,000 BTC on Deribit Exchange, Hits ATH on CME

“By Bitcoin, instead of funding ‘criminals’”

A podcaster and ‘Ministry of Nodes’ co-founder Stephan Livera has taken to Twitter to share his preference of Bitcoin over government bonds.

He expressed his surprise that there are individuals and entities who buy government bonds now amid the financial crisis caused by the pandemic and enhanced by the quantitative easing made by the Fed Reserve.

He admits that some could be forced to do so by regulators. However, Livera believes that buying BTC is much better than ‘funding criminals’.

Whales transfer 17,320 BTC

As reported by U.Today earlier, crypto whales had moved a mammoth-sized amount of Bitcoin from top crypto exchanges, Binance and Bitfinex, as well as sent part of that money to other trading platforms.

The USD equivalent of this BTC amount is 169,420,602.

The present BTC transfer fee totals $5.82. However, Mati Greenspan expects it to go down in around 91 blocks after the Bitcoin difficulty adjustment takes place.

Stephan Livera has also mentioned this issue in his tweet, encouraging his followers to share their opinion on the issue.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.