Crypto News

What would happen if Jeff Bezos decides to buy all bitcoins?

Market analysts Crypto Trader and Tony Weiss talked about what might happen if Amazon CEO Jeff Bezos will decide to buy up all bitcoins in circulation.

As you know, as Bezos is $140 billion, According to Weiss, “it will raise the price of bitcoin so that he will not be able to afford it”.

According to CoinMarketCap, at the time of the review Weiss, bitcoin had a market capitalization of $137 billion, and each coin was estimated at $7500.

Over the last 11 years the number of bitcoins traded in the market reached approximately 18 343 537 BTC. Coins are in various wallets and platforms, and many of their owners are gozlerimi are not willing to sell the coins in the near future. At the same time, many of the early holders of BTC have lost access to your bitcoin, which is unlikely to be reversed.

Only a certain number of bitcoins is really a liquid and is traded on the market.

Weiss said that “bitcoin is a very illiquid asset.” He explained that the attempt by Bezos to buy all the available and scattered bitcoins will lead to a parabolic growth of asset prices, even Bezos himself will not want to do that.

Weiss also explained that it would cause fear in the market. For example, if Bezos will be able to purchase 25% of coins to compete with Satoshi, it would cause a panic, as people will think that at any moment there may be a dump.

Weiss said that a similar situation occurred in 1979-1980, when a narrow circle of people tried to buy silver on the market, which is due to such a situation grew from $6 to $50 per ounce.

Source:

coinspot.io

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