What if this guy with 96,651 BTC suddenly cashes out?

[BitHodler]

I think there is a limit of cashing out btc in a day so you can't just cash out all btc in one day.

There is indeed a limit in cashing out actual fiat, but not with 'cashing out' by just selling your coins on a specific exchange market that eats through available liquidity, and the latter example is what OP was referring to.

The only limit there might be in place, is that an exchange could freeze the market and halt trading after a flash crash of 50% (trigger percentage could vary) occurred. It's a safety measure that's meant to calm the market.

[eaLiTy]

https://blockchain.info/address/3Cbq7aT1tY8kMxWLbitaG7yT6bPbKChq64
Currently circulating supply for Bitcoin is 16,874,375 BTC.
Does this mean an insignificant drop of ca. 0.57%?

That is a hell lot of coins stored in one wallet. One thing i am sure about that wallet is that he wont be selling all the coins at once,i really do think it is practically impossible to sell everything in a single exchange,the only chance is when he puts all the coins under market value across different exchanges and then he might be able to crash the market temporarily and the market will move forward.

[lvincent]

If this guy cash out all of his bitcoin it is a big dump but i'm sure that he cannot easily sell that amount of bitcoin it might not affect the value of bitcoin that big maybe it goes down a little bit but market always bounce back.

[andrew1carlssin]

https://blockchain.info/address/3Cbq7aT1tY8kMxWLbitaG7yT6bPbKChq64

Currently circulating supply for Bitcoin is 16,874,375 BTC.

Does this mean an insignificant drop of ca. 0.57%?

I am not ER guy ... but why that guy did that ?

[JanpriX]

If we're gonna think about it in a logical way, a whale with that amount of BTC will not dump it in a single transaction or single day. They will not be able to have the maximum profit they could take out of their BTC. The most probable way they could do is dump their coin in small amounts during a bull run but not during a bearish market. You should know that a whale is always after the profit and will not probably take any loss by dumping 96k BTCs all at once.

Well, in the end, this is cryptomarket and most of what's happening right now is illogical in every way.  

[btc_angela]

If this guy cash out all of his bitcoin it is a big dump but i'm sure that he cannot easily sell that amount of bitcoin it might not affect the value of bitcoin that big maybe it goes down a little bit but market always bounce back.

If could have a impact, but I think it will be very small and its for short term only. This is not 2013, way back the whales dumping can have significant effects, but since then, the ecosystem has changed a lot. No single whale can tip the balance on his favor and crash the market if that is his intention.

Yeah, I agree, the market will always bounce back from constant dumping, bashing the banks, and even regulations from government around the world.

[orarider]

Then the bitcoin will drop to the lowest value. No one wants to invest in bitcoin anymore. Bitcoin will disappear.

[creeps]

If this guy cash out all of his bitcoin it is a big dump but i'm sure that he cannot easily sell that amount of bitcoin it might not affect the value of bitcoin that big maybe it goes down a little bit but market always bounce back.

Though he holds huge volume of bitcoin I think he cannot easily convert it into fiat money since government will run after him for sure. Bitcoin is great in terms of bouncing back a lot of whales are out here and they will not let bitcoin down easily. But hopefully they will not sold everything he have cause it can really affect the market for sure little by little.

[chengyinoing]

We can only guess why he bought so many bitcoins.

If this guy suddenly decides to sell his bitcoin, the BTC will go down.

[Indrawan77]

It will be  a problem for him and all bitcoin users, he will become the government target to pay taxes and for the bitcoin users there will be a huge price drop, but it will be a chance for people to buy btc at lower price, the person will regret if he sell it all at once, if he is a good investors then he will sell it slowly

[blocklancer8]

Is this real? If this is really Yes then it is amazing how much he feels so happy, but whether or not someone will eventually seek HIS lost possession. Very risky! If indeed i find it, i will surely keep it!

[tetsu223]

I was thinking on how was he able to get it ? 96,651 BITCOIN ? im confused and at the same time amazed

HE wont be able to cash all that bitcoin , because thre s a limit to how many u can withdraw

[doloresdeleon07]

If this guy really is holding this amount of Bitcoin I think his main objective is to benefit from it. By cashing it one time he will not maximise his profit so he knows that to really take advantage of this amount of Bitcoin is to sell it slowly, make the price a little steady. Other way could be selling it by parts to the highest bidder.