This morning one of our overseas contacts showed us a conversation with some guy who looked for some OTC* Bitcoin transaction opportunity. The amount of inquiry was 10 000 BTC.
There's a temptation to question the legitimacy of the inquiry. Skepticism has its place. Could the buyer be seeking a competitive advantage by learning their foes pricing model? Might be.
But there's also plenty of reason to think this is completely real. You might have noticed this morning that virtually all cryptos are dancing higher. We guess the moral of the story is if you let everyone know you have a truckload of BTC inventory to buy, prices magically tiptoe higher.
This order might be real. It might be bogus.
They're not all bogus.
Big players are moving billions into cryptos for any number of practical reasons. It gets exhausting hearing cryptos get called "rat poison squared." And we cringe every time I hear the word "scam".
Institutional money is on its way - and fast. Get used to this.
Someone is accumulating. Something is brewing.
*OTC - Over The Counter. Transactions like OTC do not take place on exchanges, only in real life via localbitcoins.com or via trusted connections. Obviously, they don’t affect the prices.
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