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

[JuniAiko]

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%?

[LeonardoDiCrypto]

If any of the big whales would suddenly cash out, Bitcoin's price could get quite a big hit. However, it is not in their interest to do it, since this way they would get far less cash than by selling slowly. On the other side, some super-whale could have the precise purpose to crash the prices so that he can buy the coins back cheaper. By the way, I guess this scenario has already occurred a number of times, perhaps even recently.

[First77]

He will sell 96,651 Bitcoin.  100% true.

[heureca]

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%?

This guy can not sell all BTC for 1 day. It will be very hard to do considering criptocurrency exchanges day limits and volumes

[pekcoin01]

I would have gone out of my mind. I work, I travel the world I would do everything I wanted.
Eat, drink, have fun!

[sakib.bro]

is he alien or something?
i guess he may not be the person for sure

[Tipsters]

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%?

What an amount of money for a single person. Although I do not envy him, is cashing out that amount of money even possible? If so, he will greatly affect the whole bitcoin market and can make the price of bitcoin very high or low. That is why whales are greatly feared and sometimes hated by the bitcoin users because they have so much money and they find it hard to protect themselves and their money.

[Tipestry]

It would be much more profitable to sell slowly, so the only scenario where someone would sell that much quickly is if they desperately needed cash right away, like if there a really amazing black friday sale and they wanted to buy 10,000 refrigerators.

[newb-dev]

I don't see why that guy would suddenly cash out if he owes that many bitcoins. If hypothetically that happens then sure bitcoin price will have to suffer 

[LoyceV]

What if this guy with $10 billion suddenly starts buying Bitcoin?

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

Circulating supply is irrelevant, most of it isn't "circulating". Only a small portion is traded each day. Trade volume is currently $7 billion per day.

Buying with dollars increases the price, selling Bitcoins lowers it. The market will always find an equilibrium, which makes speculating like this useless.

[First77]

I don't see why that guy would suddenly cash out if he owes that many bitcoins. If hypothetically that happens then sure bitcoin price will have to suffer 

Man selling 8000 Bitcoins

https://bitcointalk.org/index.php?topic=2698402.0

[Don Pedro Dinero]

If he wants to cash out and he is not an idiot he will start selling small parts, slowly. I bet if he is not an idiot he won’t sell everything to begin with, but something similar happens with the stock market and people who hold large positions usually sell small parts and, if they want to sell all their position, they do it out of the market. They don’t just go and place a sell order for all their stocks, as that goes against their interest.

[slackcryptoz]

An user won't intend to sell all the bitcoin holdings in a day's time or two. Cashing out of bitcoin is possible to some extent and to some limit whales will manipulate the price after which bitcoin won't go that low in value.

[Scorpion]

Then he's not smart.

1.) He would be devaluing his own money.

2.) He would he need 96,651 BTC worth of money for?  He can just cash out a little by little

3.) He would be cashing out before BTC is massively adopted in the future when he can just spend BTC and not fiat money.

4.) RIGHT NOW BTC IS CHEAP! (DYOR and come to your own conclusions on that one)

[chidrawarster]

I only see in that case, the market will start dropping hard atleast another 30 percent bringing back btc to new lows. This has happened several times in the market and always in this scenario , the buyers take back buy positions at cheaper prices and start waiting again to hit their target price and then cash out.But long term investors are never interested in this type of stuff as they believe in asset based.

[Kprawn]

We have had similar situations when the Silkroad coins were sold on auction. {about 50,000 bitcoins} This only had a slight

impact for a few days, until the market absorbed the news. Luckily most of those coins were bought by hoarders, so it was

not dumped onto the exchanges at once. Most of these people know that the price will drop, so they will not dump a lot of

coins at the same time. They will sell small batches at a time to get the highest price possible.  

[weston4mills]

Those are a lot of bitcoin for only one guy. How can he handle it? I hope he doesn't cash out because that would affect the bitcoin price

[pey]

This guy is buying, he does not probably need that money so that he will never cash out all of them suddenly, even all world make crypto illegal, he would buy more   this is how they make millions of dollars.

[usekevin]

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%?

If he had cash out this much bitcoin in a one day.He will loss a huge for sure. As we know the price of bitcoin will increase further and now the value is low ,they will feel for entire selling in one day.
Best option to cash out in bitcoin is selling it based on the requirement. We should keep some bitcoin for our future.

[justine11]

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%?

Well yes there is a significant of price in bitcoin if whoever owns that address will sold all of his bitcoins but on the other hand, i high doubt that one person owns that huge amount of bitcoins in that address (i only know person who owns a huge amount of bitcoins 40k to be exact and that is roger ver) and if that person owns that amount of bitcoin and cashes out, the problem is the banks and the government depending on what country he /she lives they will investigate you regarding with your money received on your bank account from the exchange or worst he/she will be charged with money laundering. If you ask me, who owns that address? I 'd that address owned by an exchange.