Andrew Tate Raises Questions Following MicroStrategy's Inability to Influence Bitcoin
Andrew Tate's Crypto Involvement: Andrew Tate, a former kickboxing champion, has faced significant losses in crypto trading, including a complete wipeout on Hyperliquid, while promoting various meme coins to his followers.
MicroStrategy's Bitcoin Purchase: Tate expressed confusion over MicroStrategy's recent acquisition of 10,624 Bitcoin, questioning why such a large purchase did not affect Bitcoin's price.
Expert Explanations on Price Stability: Crypto experts, including Binance's co-founder, explained that large purchases by companies like MicroStrategy often occur over-the-counter (OTC) to avoid impacting market prices.
Mechanics of OTC Trading: OTC desks facilitate large Bitcoin transactions quietly, matching buyers with sellers off exchanges, which prevents visible price spikes and allows for gradual accumulation of assets.
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