Bitcoin has a much higher tolerance for dumps and large sell offs due to its higher demand and higher transactional volume. The Winklevoss Twins could sell off all their BTC and it might not make much of a dent depending on the quantity and price of buy walls on exchanges. There are many other big holders of BTC such as bulgaria's government which held $3-$4 billion in bitcoin it confiscated from criminals.
I think the USA once held large amounts of bitcoin seized from silk road and other illicit enterprises. Last I heard, those funds were sold off years ago when bitcoin was worth much less.
With coinbase reported to be receiving around 100,000 new sign ups per day there could well be enough demand for bitcoin to survive large dumps without sustaining much loss in value.
Are you sure is not going to make a dent in the market?
Take a look on the volume during these days, what was bought and was was sold.
1.6 billions getting dumped right now would probably send us back to 10k levels.
And with those 100 000 coinbase new users (which doesn't guarantee even 10 of them actually buy) why is the price not going up?
A huge dump right now would not only bring the price really down but it will trigger a chain affect since it will be a sign one large "investor" has lost hope in the coin.
Has anyone ever worked out what their address is?
There where rumors about one address belonging to them but it has split the coins since then to multiple addresses.
The other with 100k turned out to be an exchange.
Probably a smart move to split the bitcoins when you hold billions.
