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Issue #343: Buyers of last resort

Oct 19, 2018
Marty's Ƀent

Issue #343: Buyers of last resort

Last night, Pierre Rochard published this piece on Bitcoin buyers of last resort that I highly recommend you freaks check out. Pierre does an incredible job of comparing Bitcoin buyers of last resort to the lenders of last resort we know all too well about in the traditional banking system and explaining how Bitcoin's order book's and liquidity depth work.

For as much contempt and scorn as some people have thrown towards "HODLers", they are an integral part of setting a price floor that stops the panic selling that ensues after a parabolic move. There are six different types of buyers of last resort that Pierre describes in his piece. Each has a different reason and way through which they help set the price floor. Grow your know this AM by reading this piece and throw Pierre some Medium claps while you're at it.

Bitcoin buying in Venezuela

This is only one exchange and only $25M, but it's interesting to see the people of Venezuela seem to be gaining confidence in Bitcoin. Even as the price sits $12k+ from it's highs of late last year. As always, I stress that Bitcoin isn't a panacea for countries that are experiencing economic meltdown like Venezuela but it is a very powerful tool that gives individuals in these countries some power and a vehicle to store value.

Final thought...

Already ready for Memorial Day Weekend.


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