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0 sats \ 7 replies \ @BlokchainB 27 Nov \ on: Is MicroStrategy Just a Bitcoin Time Bomb Waiting to Explode? bitcoin
Yes it would. Simple supply and demand dynamics. If Saylor dumped his 600k+ coins on the market it would be catastrophic drawn down that would put Bitcoin in a deep bear market.
The order book is not deep enough to absorb such a massive sale of coins. It will definitely tank the market
But I will get bitcoin at a discount and it will further decentralise the ownership?
I am always a huge fan of Whale liquidation as it reduces a single entity's influence on the market.
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That’s if people take advantage a few will a majority won’t
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If by few you mean the coins in a single address will get distributed to a hundred addresses that still is decentralisation
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The order book is not deep enough to absorb such a massive sale of coins. It will definitely tank the market
Bitcoin trades around 20 to 30billion$ per day on combined major exchanges and mstr holds around 60billion$ worth of bitcoin so i think its not that market cannot absorb this massive dump just the panic it will create in market maybe not be sustained if lets say everyone tries to sell.
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That is probably total volume (buy and sell) plus price is set at the margin. If some market sold $60billion on a low buy volume day the price will free fall until buying can absorb all that sell pressure
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So we just hope that it wouldn't happen.
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If it does just take advantage and buy more sats
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