$1 billion and 12.69 million ounces of silver—this man made a fortune by betting on precious metals a year ahead of time!
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Silver has broken through the historical threshold of $100 per ounce for the first time ever, and behind this epic bull run, a shocking bet by a tech entrepreneur is coming to light. While silver prices were still hovering in the $30 range, someone quietly accumulated $1 billion worth of physical precious metals; this trade may now be sitting on unrealized gains of over 250%.
Entrata founder David Bateman revealed in early 2025 that he purchased "close to $1 billion worth of precious metals" in the past six months, including 12.69 million ounces of silver, equivalent to 1.5% of the global annual silver supply. This massive bet on physical metals is comparable in size to Warren Buffett's silver investment in the late 1990s.
Bateman's trading logic is based on the belief that the global monetary system is about to collapse. He believes the biggest credit bubble in history is about to burst, and the U.S. will need to refinance $28 trillion in maturing Treasury debt over the next four years, triggering large-scale money printing, a process being accelerated by Trump's tariff policies.
On Friday, silver soared to a historic high above $100 per ounce, with gold approaching the $5,000 threshold. Rick Privorotsky, head of Goldman Sachs’ Delta One desk, noted that while fund flows indicate some speculative involvement, the main driver remains structural. He emphasized that gold is primarily a central bank trade, reflecting the gradual erosion of the dollar's exorbitant privilege rather than a sudden loss of confidence. This assessment echoes Bateman's view of a long-term restructuring of the monetary system.
A $1 Billion Physical Bet
In early 2025, David Bateman disclosed on social media platform X that he had bought close to $1 billion worth of precious metals in the past six months, including 12.69 million ounces of silver, or about 1.5% of the world's annual supply.
Bateman previously showed photos of silver bars loaded on heavy pallets, calling it a "once-in-a-lifetime trade."
After silver prices jumped above $100 per ounce on Friday, Bateman posted on X to congratulate, “Congratulations to everyone on silver breaking 100. This group of slightly autistic misfit freaks is really lucky.”
Although he did not disclose his exact cost basis, based on the timing of his position (around October 2024, silver at $30/oz), this trade may be sitting on paper gains of over 250%.
Nine Reasons for Extreme Allocation
Bateman gave nine reasons for this massive investment in physical precious metals, forming a complete doomsday hedging logic:
The global monetary system is on the verge of collapse, what he calls "The Great Reset" or the "Basel Endgame".
The largest credit bubble in history, reaching $300 trillion, is about to burst.
The U.S. will not be able to refinance $28 trillion in maturing Treasury debt over the next four years unless it engages in massive money printing.
Trump's tariff policies are accelerating the collapse, and this is intentional.
Gold and silver are the only meaningful lifeboats, and holding physical metal is vital.
The current global situation is a precision game of musical chairs, and precious metals are the chairs.
He views cryptocurrencies as psychological warfare, and buyers will find no chair when the music stops.
Compared to precious metals, real estate, crypto, stocks, and bonds will all depreciate sharply.
The banking system is designed to seize assets to support a failing sector, while precious metals carry no counterparty risk.
Warren Buffett's Silver Story
The breakthrough of silver above $100 is reminiscent of Warren Buffett’s similar bet in the late 1990s.
Before the dotcom bubble burst, Berkshire Hathaway accumulated 129.7 million ounces of physical silver, about 4,000 tonnes. This position was liquidated around 2006, bringing Berkshire considerable profit.
Analysts point out that while Bateman’s trade does not match Buffett’s in ounce volume, a $1 billion investment at today’s prices is equally striking.
More importantly, this is a pure physical metals bet, reflecting extreme wariness of financial system counterparty risk.
Risk Warning and DisclaimerThere are risks in the market, and investment should be done cautiously. This article does not constitute personal investment advice and has not considered the particular investment objectives, financial situation, or needs of any individual user. Users should consider whether any opinions, views, or conclusions in this article fit their specific circumstances. Investing based on this is at their own risk.
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