04-14-2022, 05:14 AM
What happens if I'm a billionaire and I buy 95% of a certain crypto supply?
<!-- SC_OFF --><div class="md"><p>Weird question here but I was wondering what would happen to a crypto if a billionaire like Elon Musk or whoever just happened to be dumb enough to buy most of the token supply of a certain crypto?</p> <p>Let's say it's July 2013 and Mr billionaire decides to buy up 95% of the supply of our favorite crypto at $80 a coin. because they see the potential and understand markets.. </p> <p>What happens to the price then? Does it shoot up to 100k a token and he can make profits and sell to whoever wants to buy?</p> <p>Because from what I understand, market cap is based on how much money is in the project.. </p> <p>Anyway, I know it may be a stupid question to some, but I'm genuinely curious.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/FractalImagination"> /u/FractalImagination </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/u32h58/what_happens_if_im_a_billionaire_and_i_buy_95_of/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/u32h58/what_happens_if_im_a_billionaire_and_i_buy_95_of/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>Weird question here but I was wondering what would happen to a crypto if a billionaire like Elon Musk or whoever just happened to be dumb enough to buy most of the token supply of a certain crypto?</p> <p>Let's say it's July 2013 and Mr billionaire decides to buy up 95% of the supply of our favorite crypto at $80 a coin. because they see the potential and understand markets.. </p> <p>What happens to the price then? Does it shoot up to 100k a token and he can make profits and sell to whoever wants to buy?</p> <p>Because from what I understand, market cap is based on how much money is in the project.. </p> <p>Anyway, I know it may be a stupid question to some, but I'm genuinely curious.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/FractalImagination"> /u/FractalImagination </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/u32h58/what_happens_if_im_a_billionaire_and_i_buy_95_of/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/u32h58/what_happens_if_im_a_billionaire_and_i_buy_95_of/">[comments]</a></span>Kind Regards R