This is all fake money. I can say that my hat is worth $6b, even prove it by selling a molecule of it to my buddy for $1, but that doesn’t mean I have $6b.
He might not be able to sell it, but he could get a loan off of it. That stock shouldn’t be worth anything, but unfortunately it’s too easy to have stock at crazy high valuations.
This is all fake money. I can say that my hat is worth $6b, even prove it by selling a molecule of it to my buddy for $1, but that doesn’t mean I have $6b.
He might not be able to sell it, but he could get a loan off of it. That stock shouldn’t be worth anything, but unfortunately it’s too easy to have stock at crazy high valuations.
It’s hard to imagine a bank stupid enough to loan him anything against his stake in that company.
Apparently it can’t be used as security either.