Part 6/13:
The Tesla Bitcoin Saga and Large-Scale Buying
The conversation turns to Tesla's reported purchase of $1.5 billion worth of Bitcoin—a significant mover in the market. Woo deduces that such massive buying is unavoidably executed through sophisticated OTC (over-the-counter) desks, splitting large orders into tiny parcels to avoid market impact and front-running.
He states that the infrastructure for such high-volume transactions—including market-neutral strategies used by hedge funds—is well-developed globally, with entities piggybacking off existing OTC platforms to execute discreet orders across multiple exchanges. Woo also mentions that buying activity often appears via increased USDC (USD Coin) issuance, indicating institutional or corporate treasury actions.