Why do people with shares in SD suddenly feel compelled to turn them into fiat?
Considering their sdice stock suddenly went up 50% (from 0.0020 market to 0.0035 buyout) some would already automatically have sold some sdice stock as to lower their exposure.
However now everybody got coins instead of stock, and a lot of coins considering it's 50% more coins than the value of the stock was just a few days ago.
So some will want to lower their exposure to bitcoins as it just went up a lot for them.
We are talking around 150,000 btc that went to shareholders. Say they want to sell 20% of those btc that is around 30,000 btc that will be sold.
Also all these coins were likely bought recently, so the price was likely pushed up artificially, and is now partly going back down.
This. It may not be severe, but the only conceivable result is negative for BTC's price. The question is how much. The coins were already bought -- no more artificial spike. Sure, lots of shareholders will keep coins... but who actually thinks every investor is going to hold onto every coin? And how about the frontrunners? You think
they believe shareholders will
all stash
all of their bitcoins?
Bears fail again.
Oh? Still 160 by the end of July, then? This guy.....
