so and so billionaire or so and so company bought 100,000 BTCs is now commonplace due to the dip.
Assume that Bitcoin eventually (perhaps in the near future?) reaches $100,000 per bitcoin.
21 million bitcoins times $100,000 per bitcoin is $2.1 TRILLION dollars.
The richest man in the world right now has less than $200 BILLION dollars in total net worth.
It would require more than 10 of the richest people in the world to all hold 100% of their net worth entirely in Bitcoin (unlikely).
If any of those "whales" want to diversify into precious metals, or agriculture, or real estate, or business ownership, or stocks and bonds, or fine art, or any other investment, they'll need to sell or spend some of that bitcoin. If they want to purchase a vacation home, or a yacht, or a jet, or a luxury car, they'll need to either sell or spend some of that bitcoin. When it comes time to pay taxes, they'll need to sell some of that bitcoin.
Furthermore, I won't be willing to sell all of my bitcoin at $100,000. Therefore, the whales won't be able to get their hands on all of my bitcoin unless they pay a LOT more. There are a lot of HODLers that feel the same. As such, the whales will need to push the price a lot higher to get their hands on more and more bitcoin.
At $1,000,000 per bitcoin, a non-whale can still buy $100 worth of bitcoin for $100 (plus a small transaction fee). They can still spend that $100 worth of bitcoin on $100 worth of products and services. However, for a whale to acquire a larger percentage of the total bitcoin in circulation they need to spend a LOT more money. The larger percentage they try to hold, the more expensive it gets for them to substantially increase that percentage.