I don't believe it is [merit based] success or simple ego, though ego plays into it. To me the more UHNWI people are with cantillionaire connections and benefits from its effects, the less likely they are to see Bitcoin as worth pursuing from a speculative consideration (in the past, not enough liquidity), and they most assuredly haven't done the work to fundamentally understand how it works and why it can't be replaced. Even Michael Saylor took several years to change his position on Bitcoin. The ability to reassess and change one's position once they have new data, and even the pursuit to understand vs accept simple bullet points handed to them at face value is a key attribute of merit based leaders vs appointed management of the ruling class.