Let's imagine that I had enough fiat money to buy 1 million bitcoin ($30,000,000,000). How would I find a seller? Are there even that many bitcoins offered for sale? Or would it be easier to start a mining company with the money and mine the 1 million coins?


3 Answers 3


First, realize theres no way to get that much btc without significantly moving the price higher.

Essentially, your goal is to source as much liquidity as you can from as many sources as you can. That's so much, that you can also tap into non-spot-bitcoin liquidity with the intention of selling it at a profit after. This means buying up bitcoin cash, bitcoin sv, various correlated shitcoins and futures, acquiring options on deribit and on bitcoin etfs, and similarly with ethereum futures and on-chain, off-chain, and OTC options and futures on any and every coin for which futures exist. Make some contracts with miners to buy their future bitcoin at a premium. Buy physical mining equipment. Try to get a lot of GBTC (once we're pumping after the main buys start, the discount will narrow)

Fund a team of developers so you can directly take advantage of the DeFi liquidations that will happen as a result of the massive move. Use the liquidations to add exposure on shitcoins wherever possible. You'll sell them for bitcoin after most of the bitcoin buy is complete, to complete your buy.

Then, partner with multiple organizations over a period of time to solidify as many OTC deals as you can. Thats so much bitcoin that anyone you try to start doing these deals with will likely be able to frontrun you before you complete the sale, so you'll need to hide much of your size and appear to these giant organizations as though you're buying "only" 100m at a time.

Keep in mind, once you complete this buy and btc is at 250k-500k, you're going to have some people fight you on the OTC deals, so make those contracts specifically describe that extreme price movements will not affect the validity of the contracts. Make sure that trusted independent third parties are holding the physical bitcoin in escrow for your deals.

If you're open to market manipulation, you can get a better average price. Use your giant stack to run the typical liquidation-hunter price movements along the way. People will see what's happening and start opening leveraged longs to ride it themselves. Once you see enough leveraged longs build up around you, punish them by selling just enough spot bitcoin to liquidate all of the longs, then buy them up for yourself. Repeat on the way up.

As the price keeps going, some overconfident bears will start talking about how btc rise is getting out of hand. Find the most vocal, rich critics and make bets against them for millions of dollars.

Once you're getting near the end, with a few billion left of bitcoin buying to go, start liquidating all of your shitcoins. Start by scaling into leveraged shorts and continue as you are selling spot. Then on a Sunday or another low-volume holiday, quickly liquidate your entire altcoin portfolio. The across-the-board shitcoin collapse will affect bitcoin. Use this dip to fill the rest of your bitcoin buys.

good luck!


It is difficult to ascertain exactly how many bitcoins there are for sale at any moment. We have estimates on how much bitcoin there is on exchanges (2.26 million BTC on July 5, 2023 by Glassnode), but only some of it is currently offered on the market. Some of the rest might get put up for sale in case e.g. the price increases, but we can't know how much at which price levels. This also holds for bitcoin held by users in their own wallets, who might either put it up for sale on the open market, or be willing to sell it over-the-counter.

It is even more difficult to know how much any given amount bought will end up costing you because of the resulting market price movements. For very large amounts this could be a lot more than what you get by multiplying the amount in BTC with the current unit price. This is related to terms like market depth, market impact and slippage.

There are currently a little over 1.5 million bitcoins left to be mined, which means anyone looking to mine a million from now on would need to have a lot more mining power than everyone else combined. This obviously isn't the way to go. If we consider transaction fees rising in the future, you might be able to eventually earn a million coins with less than the majority of hashpower, but it would probably take decades at least.


Let's imagine that I had enough fiat money to buy 1 million bitcoin ($30,000,000,000).

The premise is acceptable, as any other axiom can, but the clarification is actually wrong. 30 billion USD is the current multiplied price of a million Bitcoin coins, but buying from now a million Bitcoin costs much more than 30 billion USD.

Once you buy a few thousand Bitcoin readily available on exchanges, price pumps (i.e. green candle happens) and price ceases to be as small as 30 thousand USD unless you somehow freeze the market back to such price. You would need some very worked strategy to buy that many coins while suppressing price so much.

Now the axiom implies you represent a nation state sized actor, so you could have quite such resources in order to try to suppress price globally. But those could maybe not be enough.

How would I find a seller?

You wouldn't buy from a single seller, you would need to find multiple sellers, from any imaginable source.

Are there even that many bitcoins offered for sale?

I think so, yes, currently. But that might not be the case in the future. Also, remember you absolutely wouldn't be able to buy a million coins for 30 billion USD, no way, as explained before. It would cost you a lot more USD, but yes I think you can still buy a million coins at some price.

Or would it be easier to start a mining company with the money and mine the 1 million coins?

I don't think so, because reward is so small nowadays.

Or maybe yes, but only if fees skyrocket a lot from the current small 5 sat/vbyte in the mempool since a few months from now.

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