3 ms·
No, they absolutely don't increase the value of btc - someone buying eth means they don't buy btc. The only remaining advantage of btc is that it has the larges
by nootropicat 5y ago
No, they absolutely don't increase the value of btc - someone buying eth means they don't buy btc. The only remaining advantage of btc is that it has the largest capitalization. The moment that ends is when it gets repriced as an old memecoin - a competitor of doge and shiba. Complete collapse into oblivion.
There's no liquidity to sell large amounts of btc. I don't know how many Dorsey has, but the only exit plan for whales is to dump bags on pension funds buying into a spot bitcoin etf. Of course that's not going to happen if bitcoin is no longer first. For this reason it would be more profitable for bitcoin whales for btc to drop 70% if that means 80% btc domination.
>but Dorsey can easily move his investments if he sees that coming
He's already sitting on a massive loss, and you're proposing he sells at an even bigger one like it's nothing. If he was going to ever do that it would already have happened.