80% of Steem Dollars in the hand of Steemit Inc. (8.5 Million SBD)
This is interesting... As a fact 80% of Steem Dollars are held by the Steemit Inc. account. As of now it holds 8,500,000 SBD.
I tried to look through transactions how they were getting it, but it is not very important. A few months ago total SBD supply was only 3,5 million. So Steemit Inc. intervened in the market buying all they could as a fact.
It seems like lately they have a policy to have something like a 1:1-peg regarding SBD and Steem as a target.
Why are they doing this??
- One reason might be that they want to increase circulation of SBD, as everybody will sell their SBD if they are above 1 USD, no one will convert them.
The question here is why have it 1:1 with Steem (or sometimes you would get even several Steem for 1 SBD)? - Another reason might be to distribute more Steem to normal users out of their enormous holdings. Instead of burning them or something like that.
- As some of the SBD have been sold to BTC (which is a leakage of funds) it also could be meant as something to increase interest in writing articles, a pay-rise for authors. (Altruistic reason)
- It could be as well that with the Smart Media Tokens on the horizon, that they have a payment model in mind where everybody will need Steem Dollars in order to create their Smart Media Tokens. If the demand is high and payment can only be done with SBDs, and the SBD price of being able to create the token is high, that the SBD might skyrocket! (Non-Altruistic reason)
As Steemit Inc. is an insider to what is going on, I hope that the last (non-altruistic) reason is why they are doing it.
Has anybody followed the trail or knows anything about the accumulation of SBD's by Steemit Inc.?
Disclaimer: This is no investment advice, just my opinion.
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Great information
sbd is always meant to be remain near the peg of $1 but due to some manipulation it went higher
That is the interesting part... why would they buy SBD for more than it is worth?? They are insiders... do they know something regarding SBD we do not know?? Or are they just throwing their money out of the window??
so much money if they dumped it this could be a massacre
Dumping SBD would not be more of a problem than if they stopped buying...
The interesting thing is why were they buying 8.5 million in the first place?? And how? Selling Steem in order tu buy Btc or KRW and then using the proceeds tu pump SBD? In order to pump Steem because of high SBD?? (high SBD=high botreturn and high author payouts)
I really do not understand what they are doing...
sbd price will fall ultimately one day the price we are getting right now too is high
As long as Steemit Inc. keeps on buying we could be fine... if they stop SBD goes back to where it belongs... 1 USD...
What makes u think they hold 80%
Here an article regarding this last reason, which I wrote without knowing that Steemit Inc. was the one buying:
https://steemit.com/smart/@mexbit/this-might-be-the-reason-why-a-sbd-is-13-usd-worth