How Cryptocurrency Investors Are Transforming Wealth
A cryptocurrency investor wants to buy 25% of bitcoin’s (BTC) circulating supply, according to a Forbes article. The client is one of the many investors who are using Dadiani Syndicate, a cryptoasset investment company which has created a peer-to-peer (P2P) network to trade cryptocurrency. The wealthy individual is also part of a new breed of billionaires who have accumulated large amounts of cryptocurrencies and are looking for ways to convert these into tangible assets.
According to its founder, Dadiani Syndicate has found the solution to the problem of high-value transactions and, particularly, moving cryptocurrencies between various countries.
Eleesa Dadiani, is a Georgian who has founded and operates the UK-based syndicate, acting as a luxury goods broker helping businesses and individuals move cryptos through the purchase of luxury items. In an interview to BBC’s Panorama, Dadiani explained what these crypto billionaires are buying: “It’s fine art, Formula 1 cars, precious stones, bullion, fine wine, bloodstock, thoroughbred horses-all the normal categories. So, we have a new breed of high net worth individual. They made a lot of money with cryptocurrency, so now, we have a problem; how do we cash in those holdings? For normal individuals who don’t have the setup of being able to move large numbers between cryptos and ordinary currencies, it’s going to be a problem. So, there is another way of doing things: move from crypto into tangible assets.”
Conventional currency is not a choice, as a lot of her clients are from China and Russia. The question for Dadiani is how to move money from a sanctioned nation, such as Russia, to the UK.
A Georgian noble and cryptocurrency broker: Meet Eleesa
Eleesa Diadiani is more than a voluptuous woman with a sultry voice. Saying this, however, does not diminish the fact that she could sell me anything. More than anything, she is a clever business woman. Having detected a gap in the market, she has proceeded to solve the problem. With a new high-net worth individual sculpted by, and formed by, a growing cryptocurrency economy, Eleesa realized the need of converting this new cryptocurrency wealth into real world, hard assets.
A medium between buyer and seller, Dadiani facilitates sales by converting cryptocurrencies into fiat. A scion of nobility, she moved to London where she opened her gallery in 2014 and started accepting bitcoin for art, soon after. One of her biggest sales was a Chinese investor who wanted a fleet of Formula 1 cars for £4 million. As she mentioned in the Forbes article, it was one of her clients who approached her recently and was “interested in acquiring 25% of all bitcoin currently available. There are a number of entities who want to dominate the market.” The amount, the Forbes article reported, “including those bitcoin that may be permanently lost, is around 4.5 million and worth a staggering $38 billion at current exchange rates.” Dadiani did explain that her company has been instructed “to scour the markets and gain access to as close to 25% as possible.”
Crypto brokerage solutions: How Dadiani deals with slippage
But, trading large amounts of cryptocurrencies is not an inconsequential action. “People buying large quantities of bitcoin want to avoid slippage. The only way to do this is to avoid exchanges,“ she explained. Slippage is the difference between the intended and the actual price a trade is executed. This can be massively affected by higher volatility and large orders in a low volume market.
Dadiani has built a network of bitcoin investors who exchange significant amounts of cryptocurrencies and are all trusted sellers as they are clients of “reputable banks.” She has so far conducted trades worth of millions of dollars in exchange for a broker’s fee.
“The interest in bitcoin has never waned,” but Dadiani would be interested in dealing in other cryptocurrencies, if, and when, the right opportunity arises: “If someone wants large amounts of ether or another major cryptocurrency, we would likely be able to find a seller.” While she started with art and cars, the cryptocurrency industry has opened for her limitless possibilities. As she said, “Art and cars are a small industry, bitcoin and crypto is something different.”
Sources: Forbes, BBC, Dadiani Syndicate, Vogue.