Why doesn't he just let it fall to nothing and scoop it up for cheap? It eventually will climb back up in a few years anyway. Why does he want to catch a falling knife?
Imagine, just for a moment, that you have money and give Bitcoin a decent success chance. Then imagine multiple people of the kind exist, competing to be the lowest to execute a major buy.
Voilà! That's all the magic. We're closing in on a potential end of the bust, and people compete to strike the bottom. Panic sells into large bidwalls have high volumes. It's an invitation to early adopters to do a massive panic sell.
Why is everyone so upset about this? Everyone is free to place orders wherever he wants. I personally would not choose a round sum or be so visible, but then again, I'm not the one throwing 100k USD at the market, so I don't get to choose.
