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That's 6.3% of all Bitcoin currently in circulation. A crazy amount.

• tedmiston 10y ago
  1,000,000 Bitcoin == 563,770,000.00 USD https://www.google.com/search?q=1000000+btc+in+usd https://www.google.com/search?q=1000000+btc+in+usd
  • acveilleux 10y ago
    Sort of... When trading that large a fraction of the whole pool of BTC, the trade itself would drastically alter the value of a BTC. To the point that I'd be surprised if someone could openly acquire that large number of BTCs before being priced out of the market. The block chain makes it worse because everyone can see the progress of the buyer and there's no market maker with anywhere near this level of liquidity.
    • oswald 10y ago
      A private transaction of BTC wouldn't effect the market value of BTC. It is correct to say 1M BTC = 565M USD; the market price of BTC/USD is only effected when the BTC is sold on an exchange.
      • EthanHeilman 10y ago
        Almost no single entity has that much BTC (as of 2016 only ~15 million Bitcoins exist), to acquire it someone would have to aggregate the Bitcoins from many other entities by via buys on a Bitcoin exchange. This would cause a massive spike in the price of Bitcoin. Interesting to note: there has been no new Bitcoin block for the last 1 hour 23 minutes. This happens from time to time, but it is a little suspicious. See https://blockchain.info/ https://blockchain.info/
        • pests 10y ago
          They don't except it all from a single entity.