That article is incorrect.
The youngest self made billionaire is Vitalik Buterin at an age of 23, the founder of Ethereum.
Ethereum has a market cap of currently 35B.
Its rumoured that he has 5-10% of the coin supply.
People need cryptocurrency to be illiquid for their peace of mind instead of just facing the reality that they made bad choices.
In the crypto space the lending facilities are just getting started, SALT, the central bank of Mauritus and others will also provide fiat liquidity for cryptocurrency collateral.
1.1 billion would take a few days, but it would be shopped around to other firms that want to buy that much without moving the market.
eh same as any asset class really.
That said OTC price of everything could still be over $1 billion.
Also, Ethereum won't mix inputs from different sending addresses, so it would have to be done in multiple transactions if he has multiple addresses. This would be indistinct from all the other transactions on the network.
OTC markets would try to price his assets at a lower value, and thats where you negotiate, and find counterparties yourself. If you know of several hedge funds that want to BUY ethereum without moving the markets UP, then you can sell straight to them, and tell the OTC trader that they won't get any volume and then you'll get a better price.
Saying he isn’t a billionaire because of that is sort of a double standard though. Most billionaires don’t have billions in liquid cash, they almost all have illiquid property, stocks, bonds, etc. Selling off some of these assets would cause a very similar effect, and often they can’t easily be sold at all.
Agreed on the first, the latter are pretty liquid, save for say 20% of Stripe's market cap, for which a private buyer can likely be found.
> Selling off some of these assets would cause a very similar effect, and often they can’t easily be sold at all.
I'm sure you can find buyers for them though, I'm not sure who's going to buy >$1B of ETH.
35,369,012,164*2%= 707,380,243