Bitcoin (BTC) can crash hard, but will never go down so hard that it ends up costing 0.00 USD because one man is going to buy all of it. In tweets on July 9, the British entrepreneur Alistair Milne revealed that he had placed an order for 18.52 million BTC ($174 billion) — more than the current supply — on exchange Bitfinex.
Milne will BTC for 0.01 USD
In what appears to be more a tongue-in-cheek gesture than concern that Bitcoin is in for a major fall, Milne uploaded a screenshot of the Bitfinex order book.
“I hereby confirm that #Bitcoin will never go to zero (at least on @bitfinex),” he wrote.
“I’m buying them all at $0.01.”
In order to complete the purchase, Milne will need the princely sum of $185,200. This is currently 19.7 BTC if he chooses to set aside a portion of his holdings for such an eventuality. Thanks to this recent action of his, BTC will never be 0.00 USD.
BTC will be $0.00? – hard to sell
Despite the overwhelming likelihood that Bitcoin will not drop to zero, the cryptocurrency has a few detractors.
Other critics may no longer be as sure as they once were. In 2018, ex-PayPal CEO Bill Harris claimed that Bitcoin was destined to cost $0. Two years later, rumors began spreading that PayPal was actually about to integrate cryptocurrency payments.
One of the industry’s most faithful non-technical monitors of Bitcoin sentiment, 99bitcoins’ Obituaries column, currently has 381 recorded instances of Bitcoin “dying.”
Its most recent entry is from Cointelegraph, reporting on veteran U.S. investor Jim Rogers’ misgivings about Bitcoin. After his words, RT host Max Keiser claimed that both he and Schiff would ultimately buy up huge amounts of BTC once it hits $50,000.