BrikoX@lemmy.zipM to Technology@lemmy.zipEnglish · 21 hours agoBitcoin investor moves $8 billion worth of crypto after 14 years, originally bought for less than $210,000 — 80,000 BTC transferred from Satoshi-era walletwww.tomshardware.comexternal-linkmessage-square21fedilinkarrow-up1110arrow-down16file-text
arrow-up1104arrow-down1external-linkBitcoin investor moves $8 billion worth of crypto after 14 years, originally bought for less than $210,000 — 80,000 BTC transferred from Satoshi-era walletwww.tomshardware.comBrikoX@lemmy.zipM to Technology@lemmy.zipEnglish · 21 hours agomessage-square21fedilinkfile-text
minus-squareBeacon@fedia.iolinkfedilinkarrow-up6arrow-down3·17 hours agoThat’s literally the exact amount of USD you can exchange it for, so it is literally worth exactly that amount
minus-squaregivesomefucks@lemmy.worldlinkfedilinkEnglisharrow-up7arrow-down1·17 hours agoSell 8 billion dollars worth of anything, and you’re gonna have a hell of a lot less than 8 billion dollars. Because you’ll flood the market, at that volume a potentially irreversible drop in price. It’s basic economics, but you are defending crypto…
minus-squareBeacon@fedia.iolinkfedilinkarrow-up3arrow-down1·11 hours agoThat’s nonsense because then you’re just saying the word “worth” doesn’t mean anything when it comes to anything besides unique items
minus-squareikt@aussie.zonelinkfedilinkEnglisharrow-up4arrow-down1·13 hours agoyou think 8 billion would drop bitcoin irreversibly https://www.forbes.com/sites/digital-assets/2024/10/31/microstrategy-announces-42-billion-bitcoin-investment-plan/ bitcoin itself does 9 billion in volume daily also the worth is simply the stated value at the time, it obviously doesn’t take into account market liquidity as that would be difficult to measure, but you’d know this and not bother pointing it out because that’d look silly right
That’s literally the exact amount of USD you can exchange it for, so it is literally worth exactly that amount
Sell 8 billion dollars worth of anything, and you’re gonna have a hell of a lot less than 8 billion dollars.
Because you’ll flood the market, at that volume a potentially irreversible drop in price.
It’s basic economics, but you are defending crypto…
That’s nonsense because then you’re just saying the word “worth” doesn’t mean anything when it comes to anything besides unique items
you think 8 billion would drop bitcoin irreversibly
https://www.forbes.com/sites/digital-assets/2024/10/31/microstrategy-announces-42-billion-bitcoin-investment-plan/
bitcoin itself does 9 billion in volume daily
also the worth is simply the stated value at the time, it obviously doesn’t take into account market liquidity as that would be difficult to measure, but you’d know this and not bother pointing it out because that’d look silly right