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> How would it take down the entire ecosystem? Bitcoin alone has a $194B market cap. $450M is a drop in the bucket. I'm not sure you can compare those numbers
by wcoenen 9y ago
> How would it take down the entire ecosystem? Bitcoin alone has a $194B market cap. $450M is a drop in the bucket.
I'm not sure you can compare those numbers like that. If somebody used $450M to buy bitcoin, the market cap would likely rise much much more than $450M.
For example, if I look at the GDAX order book right now, I see that the bitcoin price could be pushed up $200 by buying less than $3M worth of bitcoin. That corresponds to increasing the market cap by $3.2 billion.