Quote:
Originally Posted by Cckid
I’ve been following various BTC threads, outlets, etc for some time now. Had a question that has continued perplexing my mind.
I’ve heard people say that Sovereigns and/or Countries are and have been getting in on the BTC bandwagon. Or that BTC adoption is just a matter of time for the above.
If this is true whether it be publicly or privately taking place and seeing how BTC has a limited supply. Why wouldn’t say the biggest and wealthiest countries just buy up all the remaining supply of BTC from the exchanges?
Which in turn would give them a strong position in a supposedly decentralized product?
They obviously have the fiat to make this happen whether working together or individually.
If BTC is such a game changer why isn’t this happening and why is there even a supply available on the exchanges?
Thoughts appreciated…..
- Apple has $200 billion in cash on it's balance sheet.
- 24% of the 18,939,187 circulating BTC supply is considered "liquid" meaning it has moved on-chain within the last 5 months.
- 24% of 18,939,187 is 4,545,405 BTC. At a current price of $36,235 per BTC, Apple has more cash than the entire market value of liquid BTC ($164,702,000,000).
Do you think Apple can simply place a market order on Coinbase for $164 billion worth of BTC? What do you think would happen to the price after the first billion or so was purchased? Do you remember what happened after Tesla announced they purchased $1.5 billion of BTC on Feb. 8, 2021?