18.5M BTC ORDER PLACED? SOMEONE’S TRYING TO MAKE SURE BITCOIN NEVER GOES TO ZERO!
We all know Bitcoin is the king of cryptocurrencies - a crown well deserved. Nevertheless, there are still people like Peter Schiff who keep trolling and expecting bitcoin to vanish into thin air.
Well, that’s not the point today. Someone did something crazy lately!
Alistair Milne, an entrepreneur, and investor who is focused on Bitcoin and Startups confirmed in a tweet that he has placed an order to buy up all available 18.52m bitcoin in circulation at $0.01 on Bitfinex!
This means that if the market ever drops as low as $0.01, he’d buy up all bitcoin, ensuring the price never goes to zero. At least on Bitfinex.
What a way to lock up $185k!
Alistair went ahead to share a screenshot of the full order book on Bitfinex, which sparked up responses from the bitcoin community.
Here’s the problem: 18.5m Bitcoin will probably never be deposited on Bitfinex, which means this will likely never come to pass as there won’t ever be enough to fill that order, even if the price of Bitcoin drops to $0.01.
It would cost him $185k to buy up all 18.52m BTC at that price, and that’s a horrible way to lock up such amount waiting for that price to come.
It’s fair to say that Bitcoin's price and adoption have been progressive over the years, and seeing it crash to a horrible low of $0.01 is nearly impossible.
Nevertheless, if that were to happen, be sure to sell it on Bitfinex to Alistair at $0.01 – that’s if he doesn’t take off the order tomorrow.
Do you think Bitcoin price would ever drop to that level? Share your thoughts!