[2016-12-28] Bitfury Refuses to Sell $43 Million Worth of Bitcoin

[andrzej.srankiewicz]

One of the largest Bitcoin mining companies, Bitfury, has turned down bids to buy bitcoin from various investors and Assets Under Management funds. This is seen by many to have been triggered by the surge in Bitcoin’s price from $800 to $900.

Predictions of the price of bitcoins are coming true, prompting investors to look to bitcoin as an opportunity to seize some significant profits from. Recently, it was predicted that bitcoin’s price wouldn’t stay long at the $800 mark and that came true. Now, there are ongoing predictions that bitcoin will touch the $3000 mark in 2017, causing investors to buy as many bitcoins as possible. This is in anticipation that the price will increase high enough for them to make a sizeable profit.

You can read the full artocle here: https://coinidol.com/bitfury-refuses-to ... f-bitcoin/

[bitkilo]

Thanks for sharing, it definitely could be a factor in the recent price spike, sort of a hold and dump.
Could be a worry if this becomes a trend among the bigger miners.If just a couple of big ones like P2Ppool or BTCC can pay bills without having to sell coins asap then the price could be pushed up quite quickly.

Another reason that mining really needs to be decentralised.