$2,000,000,000 BTC dump coming soon?

By beachbummer | CryptoBeach | 27 Aug 2019


In news that can potentially tank the entire crypto market, Craig Wright just lost a court case and he now has to transfer 500,000 BTC to the estate of Dave Kleiman.

While this will be a windfall to the estate, the estate tax is 40%, which means that 200,000 BTC (roughly $2,000,000,000) may have to be sold, especially if the estate does not have enough cash to pay the taxes up front.

200,000 BTC will definitely move the market if it was to be sold as one large block, but if the executors of the estate exercise some care and sell smaller chunks of the BTC either via the exchanges or OTC (over-the-counter), they can help to lessen the impact of a dump rippling through the entire cryptocurrency industry and thus affecting the value of their own assets.

Let's see what happens next!

How do you rate this article?


0

0

beachbummer
beachbummer

Professional in Financial Services


CryptoBeach
CryptoBeach

Thoughts, news and views on cryptocurrencies

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.