RATE Group | What Would Happen If Jeff Bezos Bought All Bitcoin in Circulation?
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What Would Happen If Jeff Bezos Bought All Bitcoin in Circulation?

22 Apr What Would Happen If Jeff Bezos Bought All Bitcoin in Circulation?

Posted at 21:55h in Bitcoin News by

Holding a net worth of about $140 billion, Jeff Bezos could theoretically afford to buy all the Bitcoin (BTC) in circulation. What would happen if he tried? Genesis Mining’s head of mining operations weighs in on the matter.

“Of course he could only buy the liquid BTC on exchanges, massively driving up prices in the process,” Salter told Cointelegraph in an email. 

Bitcoin only has so many coins available for immediate purchase

Bitcoin has a current circulating supply of 18,339,687, but over the years, industry participants estimate at least some of this supply has been lost by early adopters and miners who no longer are able to access their original stashes.

Additionally, the BTC which is currently for sale on exchanges, also called liquid Bitcoin, is only a small fraction of the coins in circulation. “It’s hard to say how many coins are up for sale right now and at what price level investors would stop hodling to sell their coins,” Salter said.   

“I don’t think he could to buy a…

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