> The price hasn't been a constant $8200 during the issuance of those tethers, it was lower earlier. The same holds for the bitcoins bought with dollars at Mtg

> The price hasn't been a constant $8200 during the issuance of those tethers, it was lower earlier. The same holds for the bitcoins bought with dollars at Mtgox. But to end the discussion: Dec 31, 2013: Marketcap 10 bn, Vol 34 mn Today : Marketcap 240 bn, Vol 8 bn So 600 mn had a much bigger impact (20x daily volume back then) than they'd have today (0.075x daily volume).