1 billion dollars, 12.69 million ounces of silver, this man made a fortune betting on precious metals a year in advance!

Silver has historically broken through the $100 per ounce mark for the first time, and behind this epic surge, an astonishing bet by a tech entrepreneur is coming to light. While silver prices were still hovering around $30, someone quietly built a position of $1 billion in physical precious metals, and this trade may now have an unrealized gain of over 250%.

Entrata founder David Bateman revealed in early 2025 that he had purchased "close to $1 billion in precious metals" over the past six months, including 12.69 million ounces of silver, equivalent to 1.5% of the global annual silver supply. This is a massive bet entirely on physical assets, comparable in scale to Buffett's silver investment in the late 1990s.

Bateman's trading logic is based on the judgment that the global monetary system is about to collapse. He believes that the largest credit bubble in history is about to burst, and the U.S. will need to refinance $28 trillion in maturing debt over the next four years, which will trigger massive money printing, and Trump's tariff policies are accelerating this process.

On Friday, silver soared to a historic high of over $100 per ounce, while gold approached the $5,000 per ounce mark. Rick Privorotsky, head of Goldman Sachs' Delta One division, pointed out that while fund flows indicate some speculative participation, the dominant driving force remains structural. He emphasized that gold is primarily a central bank trade, reflecting the slow erosion of the dollar's excessive privilege rather than a sudden loss of confidence. This judgment resonates with Bateman's view on the long-term restructuring of the monetary system.

$1 Billion Physical Bet

David Bateman revealed on social media platform X in early 2025 that he had purchased close to $1 billion in precious metals over the past six months, including 12.69 million ounces of silver, which is equivalent to 1.5% of the global annual silver supply.

Bateman previously showcased images of silver bars loaded on heavy pallets, describing it as "a once-in-a-lifetime trade."

After silver prices surged above $100 on Friday, Bateman congratulated on X, stating, "Congratulations to everyone for silver breaking $100. This group of somewhat introverted fallen weirdos is really lucky."

Although he did not disclose the specific cost basis at the time, if calculated based on his entry time (around October 2024 when silver was priced at $30 per ounce), the unrealized gain on this trade may have exceeded 250%.

Nine Reasons Supporting Extreme Allocation

Bateman provided nine reasons for this massive investment in physical precious metals, forming a complete doomsday hedge logic:

The global monetary system is about to collapse, which he calls the "Great Reset" or "Basel Endgame."

The largest credit bubble in history is about to burst, with a scale of $300 trillion.

The United States cannot refinance $28 trillion in maturing debt over the next four years without massive monetary printing.

Trump's tariff policy is accelerating the collapse process, and this is intentional.

Gold and silver are the only meaningful lifeboats, and physical holdings are crucial.

The current global situation is a sophisticated game of musical chairs, with the chairs being precious metals.

He believes that cryptocurrencies are a psychological war, and buyers will have no chairs to sit on when the music stops.

Real estate, cryptocurrencies, stocks, and bonds will significantly depreciate compared to precious metals.

The banking system is meticulously designed to confiscate assets to support the collapsing banking industry, while precious metals have no counterparty risk.

Buffett's Silver Story

Silver breaking through $100 reminds one of Buffett's similar bet in the late 1990s.

Berkshire Hathaway accumulated 129.7 million ounces of physical silver, equivalent to about 4,000 metric tons, before the dot-com bubble burst. This position was liquidated around 2006, bringing substantial profits to Berkshire.

Analysis points out that while Bateman's trade size is not as large in ounces as Buffett's back then, the $1 billion investment is equally shocking at current price levels.

More importantly, this is a completely physical bet, reflecting extreme caution towards counterparty risk in the financial system