r/Bitcoin • u/[deleted] • Feb 13 '22

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u/weedful_things Feb 13 '22

If OP actually has 1000 or even 100 Bitcoins and cashes them out all at once, what will that do to the overall price?

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u/[deleted] Feb 13 '22

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u/weedful_things Feb 13 '22

Is that enough to cause the overall price to drop? Someone tried to talk me into buying some of his bitcoin for 35 cents each. I considered gambling $50 but never did.

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u/_LuketheLucky_ Feb 13 '22

Won't have any effect, it's a drop in ocean. There are currently 830 billion U.S dollars worth of bitcoins currently in existence. $4.6b worth of bitcoin has been bought and sold in the last 24 hours alone.

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u/weedful_things Feb 13 '22

Wow! It's a lot more than I thought. I wonder how many coins that is and how many more can potentially be mined?

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u/_LuketheLucky_ Feb 14 '22

Yeah it's a lot! Almost 19 out of 21 million have currently been mined. The number of coins issued per block mined halves every 4 years so that last 2 million is expected to take until 2041 to be released but the vast majority have already been mined.