Big Banks will redefine what it means to own one Bitcoin.

After watching an interview on the Unchained youtube channel, between Laura Shin and Ric Edelman. Ric, the founder of Digital Assets Council of Financial Professionals. You can watch the video here.

Ric said some very interesting things that offered insight into how financial advisors have to prepare for the coming bitcoin ETF. One specific point he made is that financial advisors who plan to start advising on Bitcoin, need to own or start owning bitcoin soon, to have any credibility. While at the same time, not having owned it for too long, as their customers may then ask, "if you owned it for so long, why are you only telling me about it now?".

This got me to thinking, what other aspects of bitcoin information is crucial to know, and though their are many, in the context of this subject, I would say, it's the fact that there are only around 2 million bitcoin left to be mined, and with the about 2 million left on exchanges lets add a million more for paper hands that sell one the BTC price hits a new all time high. That means there will only be 5 million BTC available to the world's wealthy investors. As more invest, the price will of course only increase. Can you imagine a multi-millionaire investing $100,000, five to ten years from now, bragging to his or her friends about how they are in bitcoin and own quite a few. Only to later find out that they actually own a fraction of one bitcoin. Human ego is only so fragile.

Bitcoiners often argue that the amount of satoshis that make a bitcoin is arbitrary, and indeed it is. This will be the very reason why banks on paper at least will lower the amount of sats that define a bitcoin, to appease the fragile ego of the rich and wealthy. This will not be an issue for just the wealthy but for all of retail as well. How many people right now, refuse to buy bitcoin because it's too expensive at X price....not realizing that they can buy fractions of a coin. This sub is filled with posts of users lamenting that they will never get to one bitcoin. Unit bias will become a powerful barrier to entry into bitcoin, one that will easily be fixed, by just arbitrarily lowering the amount of sats designated to make a bitcoin.

Where will banks and exchanges redraw the line? Will they make it standard across banking institutions? Will they continually have to lower the amount of sats that designate a bitcoin on their books as the price of bitcoin increases? Time will tell. One thing I do know is that our ape brains continue to be and may very well forever be influenced by unit bias.

TLDR: Unit bias + Rich/Wealthy with frail ego = Banking institution redefining how many sats make up a bitcoin.

edit: formatting