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The question is, say I had a million dollars worth of bitcoin. Or 10 million, or 100 million. How easily could I exchange them for a traditional hard currency,
by gaius 9y ago
The question is, say I had a million dollars worth of bitcoin. Or 10 million, or 100 million. How easily could I exchange them for a traditional hard currency, GBP, CHF, USD? What is the depth of the liquidity of this market? Without that, the valuation is meaningless.
- kss238 9y agoThe 24hr volume for bitcoin is currently at 6.2 B. Selling 10 MM of bitcoin in a day would not affect price very much. Looking at the largest American exchange (6% of daily btc volume), GDAX, a 10 MM market sell order would drop the price to around 9400 USD from 9750 USD currently. Selling 100 MM of bitcoin in a day would affect the price significantly. Looking at GDAX, a 100 MM market sell order would drop the price to around 7000 USD from 9750 USD currently. Although this would be arbed pretty quickly and I would think that it would recover to maybe 8500 USD.
- empath75 9y agoVolume in tethers or dollars?