What if a multi-billionaire organisation were to buy a large amount of bitcoin (for example 30%) only to destroy the private key associated to the wallet and brag about it all over the internet ?
First, would it be possible to prove the loss of the private key ? no
Second, How the market would react ?
Even though the possibility of that happening is small, because for someone to be able to afford that at today's price then large chunck of his wealth is definitely going for it. but since its an assumption then bragging it over the net will definitely create a panic that might drag the price down but not for too long because the media is always engulfed with new stories everyday so after a while I see a scarcity happening because the excess has been mopped up by such action which will then push the price to another all time high.