This weekend, a huge cache of documents, over 13 million in total, were leaked and they detail the shady financial dealings of some the most prominent figures in politics and business including such high profile people as the Queen of England herself. The document dump which is being called the “Paradise Papers” detail how the wealthy hide their money all around the world, launder it, or otherwise evade having to declare their full worth, either to avoid taxes or to hide illegal dealings. And these papers name names, so the information is very damning and could lead to investigations or arrests.

So, how does this relate to crypto? Well, as we can see by this leak, the old ways of “hiding” money by the rich and famous may not work that well anymore. With all these leaks and whistle blowers, it’s only a matter of time before they get exposed for all their illegal dealings. We can also add hacking to that list, where documents are stolen and then released, exposing the wealthy even further. And how much are these wealthy people hiding in secret accounts all around the world? It is thought to be $135 Trillion or more! That’s an awful lot of money for a crypto currency that can provide these people with the secrecy they seem to need now more than ever, and that’s where I think Monero comes in.

$135 Trillion is a lot of money. And that is money that is ALREADY in secret accounts around the world. So as far as I am concerned, this is a better comparison than when people talk about Bitcoin replacing gold. People invested in gold aren’t really looking for something better. However, the owners of that $135 Trillion ARE looking for something better after the release of the Paradise Papers exposed all their hidden money.

Now, I am not suggesting that all of that money is going to poor into Monero starting today. But as a long term play, I can see the people who manage these huge amounts of money and look for secret ways to hide the cash beginning to look into Monero as a way to avoid the kind of exposure that the Paradise Papers have brought them.

Many cryptos claim to have access to a huge market with a lot of money, but that market isn’t really looking for something new, the crypto has to take over, which takes time. But with Monero and hidden money, it’s a match made in heaven, and the people hiding their money are in the process of looking for a way to secretly hide money, so this makes Monero a front runner for a long term hold.

Disclaimer – This is just my personal opinion and my own personal investment strategy. It is not financial advise.

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