It’s an eerie coincidence that a trade of this size happened on exchanges with ties to Chinese customers during a week beset by that country’s capital market woes.
Like a toddler in a car seat on a long drive, last week the cryptocurrency market persistently asked the gnawing and annoying question, “Why?”
Specifically, why did someone make a massive purchase of $1.6 billion worth of bitcoin on Wednesday in a couple of minutes?