Define how it would apply to Bitcoin.
Buying bitcoins to sell to someone at a later date for a higher price due to artificially drying up the supply (isn't that squatting too?)
This is called speculating. There is no guarantee that bitcoin's price will rise in the future. If it does not rise then their investment will have not paid off.
If the person buying up "all" the bitcoin then they would not be able to sell enough of their purchased bitcon at a profit without negatively affecting the market price of bitcoin when they go to sell.
