ElectricMucus
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March 05, 2015, 03:17:16 PM

So how do we know that some whale or whales weren't planning on buying 50K coins or more on the open market and instead are buying them at auction? In other words, How do we know that this sale isn't already priced into the market? It's not like this auction is a surprise or anything.
Cherish this day: Coinbase will announce to openly buy Bitcoins with the VC money.

Charles Lee was asked about that, he said that they cannot use their VC to play the market. (Which makes obvious sense.  Why would you give your money to someone else to gamble at Las Vegas?)

That doesn't mean they won't use them to pay out merchants and keep the Bitcoins, which for all intents and purposes is the same thing. And they can change their mind or have lied.