Post
Topic
Board Bitcoin Discussion
Merits 1 from 1 user
Re: $37,000,000 in Bitcoin (BTC) for Sale by US Government
by
gentlemand
on 06/02/2020, 16:30:05 UTC
⭐ Merited by 20kevin20 (1)
What is the point of bidding if you do it at market rate or above? For that you can simply go to an exchange...

If i had the money, i would do the same: Bid at lower price than market, else its pointless.

Slippage. That's the whole reason many go to OTC trades.

No way could you obtain several thousand BTC in one go without risking driving the market batty. You could try it over a few days but even then others may notice strong and sustained buying and raise their sells.

Paying slightly above market for a one time buy could save you money vs buying on the open market.