[sky2224]

Okay genuinely, what stops billionaires from cashing out their assets? At some point, I really wouldn't care about getting another few billion from holding onto some asset, so I wouldn't mind just having that in liquid cash. Granted, I know you can't just have one bank account, but why not just spread it over thousands of bank accounts?

[bongoman42]

Because the asset price would crash if they tried to cash it. One is simply it would crash from the supply of that asset, but also it reflects to the broader public that the asset holder values cash higher going forward than the other asset which means that others would use that signal to value cash higher as well leading to a snowball effect.