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Comment by jedberg | Hacker News Reader

If you have $8B in BTC, is there any reasonable way to turn that into any fiat currency? USD, EUR, anything? Can you even buy that much USDC?

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Sure you can. If you do it over a few months, it will get absorbed by market because there are buyers (as of today). Though this is kind of unprecedented, so markets could find this kind of event bearish and front run your sells which tanks the price. But I can't imagine I'd care if I held for 14 years. There is also USDT which is much bigger than USDC.

Also if you approach Coinbase/Kraken/$exchange and tell them you have X million to offload, they'll probably let you do it off-market, so no one (except for the ledger, obviously) would really notice.

Loans using the BTC as collateral.

Buy good / commodities with BTC and resell them.

Sell the BTC.

Probably not all $8 gigadollars at once, but is there any reason you would immediately need that much?

> but is there any reason you would immediately need that much?

Because you worry that BTC will crash and want it in something more stable?

BTC is volatile but it isn't going to crash tomorrow or any time soon at least not by the amount that would make sense to sell with a wallet this old.

Compared to the “Magnificent Seven”, Bitcoin’s volatility has put it in the middle, while it’s performance puts it at or near the top depending on the time window.

https://www.fidelitydigitalassets.com/research-and-insights/...

https://www.fool.com/investing/2024/03/06/bitcoin-has-been-a...

I find it odd that someone would make a comparison between bitcoin and other financial assets, as if bitcoin was just another financial asset and its theoretical price wasn't zero... which is a pretty big market anomaly. Normally, when you find a market anomaly, you try to explain it. But these analysts, they pretend that there's no anomaly. They just don't talk about it, in the hopes that nobody will notice.

Well, what should they compare it to then?

Good has a value much higher than its use and most of its current value is just the faith that it is a store of value.

But I don't find odd comparing gold's return to s&p

It could be compared to other assets in the asset class of assets that have no intrinsic value (e.g. other crypto-currencies). I think that would make sense.

Well, one way to lower the price would be to put eight billion on the market all at once.

If the Bitcoin Sovereign Wealth Fund scam that was announced after Trump's election is launched, there will be a price bottom that is financed by public funds.

I'm not sure what has come of it. Trump is doing well with his own coins:

https://www.reuters.com/business/finance/uae-fund-buys-100-m...

https://www.bloomberg.com/news/features/2025-07-02/donald-tr...

You would have to arrange a bunch of off market transactions, Probably spread over several different exchanges. Doable, but I reckon you would end up with closer to 6 billion

Why are you asking about $8B when the article is about $2B?

If you don't want to bother, you can auction it and some hedge fund which wants to buy will take it from your hand.

yes, that’s why the exchanges are nearly $100bn companies

between multiple corporations buying $1bn per week, retail, and nation states, there is a large appetite for this amount with a few phone calls

nah, they are worth that much because of inflated valuations

Yes. And note that Coinbase for example charges retail around 1.5% or so on average, but only a few basis points to institutional clients last time I ran the numbers. Surprise.

a standard that applies to everything you respect as well

Bringing us full circle back to the utility of the signal

Seems like a "buy borrow die" type of scenario to me.

Start an ETF?

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