A short exchange on X between Andrew Tate and Binance founder CZ sparked fresh debate over Bitcoin’s liquidity and market depth after Strategy purchased another 10,624 BTC in a single day, with almost no visible effect on the price.
Tate, who has repeatedly expressed bullish views on Bitcoin, questioned why such a large buy order failed to move the market.
CZ delivered a concise explanation: Bitcoin is simply too liquid and too large for a purchase of that size to meaningfully shift its price in the short term.
Buying 1/2000th of the market cap usually do not cause much waves. Btc is liquid. 🤷♂️
— CZ 🔶 BNB (@cz_binance) December 9, 2025
“Buying 1/2000th of the market cap doesn’t cause waves”
CZ replied that Strategy’s 10,000 BTC purchase represents roughly one-two-thousandth of Bitcoin’s total market capitalization – far too small to disrupt pricing on deep global order books.
“Buying 1/2000th of the market cap usually do not cause much waves. Btc is liquid,” he said.
Why the Price Didn’t Move
The response highlights how different the Bitcoin market has become compared to its early years. With:
- Massive spot ETF trading volumes,
- Higher institutional participation, and
- Deep global liquidity across dozens of major venues.
Even a buy worth hundreds of millions of dollars can be absorbed with minimal price disruption when executed through algorithmic strategies.
Firms like Strategy typically use volume-weighted or time-weighted algorithms that spread buying activity across multiple exchanges, preventing slippage and avoiding dramatic price spikes.
The Bigger Picture
Tate’s comment reflects what many retail traders feel: if a company buys billions worth of Bitcoin across 2024–2025, why doesn’t the price instantly explode?
CZ’s reply serves as a reminder that Bitcoin is a multi-trillion-dollar asset with unprecedented liquidity for a decentralized commodity. Single-day purchases, even large ones, often blend into the steady flows of institutional rebalancing, ETF inflows and outflows, miner selling, and global arbitrage.
Still, Strategy’s accumulation does matter, not in hourly candles, but in long-term supply absorption. Over time, persistent buying reduces circulating supply and strengthens Bitcoin’s structural bullish outlook.
