I'd buy all your bitcoin
when you buy all bitcoin, and you can not convert it to a fiat, because if the price $1, bitcoin will be crushed, and no exchangers that accept bitcoin again, a.k.a they chose to close
If he has bought at $1 then why he will prefer to sell at the same price? He will surely hold them till price doesn't increase and sell only when bitcoins reaches to some descent level.
there is no time to hold when the price dropped to $1, I even hesitate to price could be increased. but you will suffer large losses.
so I'm not going to take great risks to it, most likely there will be another coin like bitcoin and you can take advantage of it.