Quote:
Originally Posted by maxtower
They must be thinking the final sale price will be a good bit less than market price.
Personally, I wouldn't know how to construct a bid for this. You probably wouldn't want to sell them all right away upon purchase. The time between placing a bid and receiving the coins could be substantial. Bitcoin has been known to be quite volatile in price. Maybe bidding 50% of market would be ok?
Disagree.
If these coins were individually auctioned they would easily sell at a premium for the same reasons why people made tons of transactions at block halving from 50 to 25.
You can look at this through multiple lenses.
Maybe SM can't afford to buy the bitcoin
Maybe SM is hedging itself against possible unforseen auction conditions
Maybe SM just wants to reach new investors looking into bitcoin
Maybe SM thinks the pool of bidders will be particularly small
Maybe SM plans on buying them all but don't have enough capital.
Maybe buyers want to hide behind SM? If I was buying those coins I 1000% would rather do it through SM than to have my name in the press.
You get the point....
But seriously, who cares????