> Conversely, it seems unlikely that e.g. Google's shares would be worth the current market cap if they were all sold at the same time.
Not really true. Google's shares have a value that is based mostly on analysis of expected value. If they offloaded a bunch of their shares at once, the analyzed value wouldn't change, so the market would only crash for a very short time while everyone else realizes Google is a better deal than their other stocks.
There is no revenue from Bitcoin, on the other hand. Much like gold, its value is almost entirely based on speculation, but with some added value on account of people needing to buy a little bit to do certain things. The market cap of Bitcoin is not based on anything tangible.
Not really true. Google's shares have a value that is based mostly on analysis of expected value. If they offloaded a bunch of their shares at once, the analyzed value wouldn't change, so the market would only crash for a very short time while everyone else realizes Google is a better deal than their other stocks.
There is no revenue from Bitcoin, on the other hand. Much like gold, its value is almost entirely based on speculation, but with some added value on account of people needing to buy a little bit to do certain things. The market cap of Bitcoin is not based on anything tangible.