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I think this was a question floating about when companies were putting a lot of BTC on their balance books. Elon Musk said they sold some Bitcoin to test the l

I think this was a question floating about when companies were putting a lot of BTC on their balance books. Elon Musk said they sold some Bitcoin to test the liquidity and it was fine. I believe they sold 10% of their BTC which came to about $1B without much of an issue. Here is Musk’s tweet about it: https://twitter.com/elonmusk/status/1386821144037236737 https://twitter.com/elonmusk/status/1386821144037236737 It may not have been all at once — whatever that means — or even over a day but it seems you could get it out over weeks or months. They made the sale between quarters so it was a max of 3 months.

floatingatoll 5y ago
The $12b described above is 120% of their BTC, then. To me, I view it as BTC that have no current USD representation in the ecosystem. They were transferred at a tiny USD per coin or something, so the total USD pressure was only $1000 and easily managed without any computer system realizing something big was happening. So we have two major USD test datapoints: $1b (Tesla), $1000 (guy who bought 259864 BTC guy). Swell. Let's add $12b to that list! It'll help understand what happens at 10^10 beyond Tesla's 10^9.
- omarhaneef 5y ago
  It is 1200%, or 12x. But the point is if you can unload $1B in a week or month without influencing the price, that sets a rate and you can drop $12B over 12 weeks or months or whatever the rate was.