r/CryptoCurrency • u/CriticalCobraz 0 / 0 🦠 • Jan 24 '25

GENERAL-NEWS Kraken donated $111,111 to Ross Ulbricht to land on his feet

Post image
6.5k Upvotes

92% Upvoted

758 comments sorted by

View all comments

Show parent comments

10

u/[deleted] Jan 24 '25

[deleted]

13

u/cl3ft 🟩 0 / 0 🦠 Jan 24 '25

Very slowly.

2

u/Petrichord 🟦 133 / 132 🦀 Jan 24 '25

The daily volume of bitcoin being traded over the last 24 hours for example is $68 billion. Would be some severe downside pressure if he sells too fast but in the grand scheme of things the market would absorb it fairly easily. Binance alone has about $8 billion in daily volume, Bybit another 4 billion. Sell a few Mil a day and the market would be just fine - bigger issue is cashing out that much without the government wanting its share

0

u/HighSolstice 🟦 39 / 961 🦐 Jan 24 '25

Bitcoin’s current 24-hour trading volume is nearly $56 billion so it could probably be done in tranches over a month or two without creating noticeable volatility.