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Why do companies and governments announce that they are going to buy (instead of just quietly buying on the sly)?
Like take the US government for example. If they want to buy bitcoin surely the want to buy it cheap, rather than announce it in advance and push the price up? Same with micro strategy, why did Saylor always seem to warn people he was about to buy 2 weeks in advance? I keep hearing headlines like “bitcoin prices surged up as XYZ announced their plan to purchase X amount” Why give away your plan? Why not just purchase quietly then hype it up afterwards (if you really feel like you have to hype it up) submitted by /u/newsround1234 [link] [comments]
Like take the US government for example. If they want to buy bitcoin surely the want to buy it cheap, rather than announce it in advance and push the price up?
Same with micro strategy, why did Saylor always seem to warn people he was about to buy 2 weeks in advance?
I keep hearing headlines like “bitcoin prices surged up as XYZ announced their plan to purchase X amount”
Why give away your plan? Why not just purchase quietly then hype it up afterwards (if you really feel like you have to hype it up)
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