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by lobsterthief 900 days ago
Given the market cap of Bitcoin, it would not have a measurable effect simply to shrink the supply by $1M.
1 comments

Does that also include the publicity?

If the media takes notice and talks about bitcoin, couldn’t that make more people buy and thus drive up the price?

I’m willing to admit that it is a bit 6 dimensional chess explanation.

Even assuming that this would increase the price by 5% (which did not happen and would be quite a stretch goal), the sender would have needed to trade in over 20 million USD just to break even. People have bet money on stupider ventures, sure, but the risk and required capital to even hope to make money make this explanation not likely in my eyes.