Large institutional orders affect price; buying $100M Bitcoin requires strategy to avoid poor fills.

So I want you to go back to that framing, that idea of you are a big institution and you are trying to accumulate a large order. Let's say you're trying to buy a ton of Bitcoin. Now, if you want to go and buy $10 million of Bitcoin at the market, you might be able to do it. But depending on the time of day, the liquidity, the actual size that you're going for, your execution can actually have an effect on the price. Now, Bitcoin is pretty liquid. Maybe you can mark it in $10 million and price isn't going to move. But let's say you want to buy $100 million of Bitcoin. All of a sudden, you're not going to be able to enter that order at the market without causing price to go up, causing you to get a worse and worse fill because you're going to be chasing your own buys as people are going to start buying, saying, oh, my God, someone's pushing the price up.