I can see Coinbase has a 500K Btc BALANCE on their change, however then I learn the place the CEO mentioned they’ve 2 Million Btc. So are ALL Bitcoin on the market once I lookup Bitcoin steadiness on an change or are they lumping in retail traders who go away their Bitcoin on the change?
Nobody knows….that’s the problem and why the push to custody your own BTC
From digging, it appears 2M BTC belongs to retail investors (coinbase offers cold storage so a portion are in cold storage- like GSBT at 600K BTC). 500K ON an exchange should mean 500K ON-chain, hence these are for sale. NOW, the interesting question is, ‘How many of the 500K on Coinbase BELONG to coinbase?’ EDIT: Actually, it makes no sense that any coins ON chain are for sale. It’s not ebay. You don’t list Bitcoin and wait. You sell in a flash
My guess at answering is 1.5M are in cold storage and 500K are on the exchange but NOT for sale… until they are. Meaning someone decides to sell and then someone buys. If they take it into cold storage it deducts from the total of 2M.
Scary that they have custody of this many bitcoin
In order to be available for sale, the account holder would need to have created a sell order for the BTC in question.