3 ms·
US $13K is laughably small for an "institutional" block. Block trading in US equities is more like 10000 shares (keep in mind 100 shares is "one lot" i.e. the
by jzwinck 13y ago
US $13K is laughably small for an "institutional" block. Block trading in US equities is more like 10000 shares (keep in mind 100 shares is "one lot" i.e. the minimum quantity for typical orders). Since BTC is trading around the same dollar value as GOOG now, imagine what would happen if someone announced institutional trading with a minimum quantity of 25 shares of GOOG. It's a decent chunk of change for your IRA, but doesn't even register for an institution.
If the goal is to facilitate large orders, the minimum quantity should be at least 1000 BTC. Institutional traders would not pick up the phone for less than that.
- bwood 13y agoWhy would it matter to an institution what the minimum is? If they want to purchase 1000 BTC instead of 25, would SecondMarket actually force them to make forty 25 BTC purchases?
- josu 13y agoI believe that he is putting it into perspective in case that some people believe that 25BTC is too high of a minimum.