Too Long; Didn't Read
OTC Bitcoin market operates in the same way the global financial OTC markets do. It acts as an alternative to formal exchanges. OTC market is often used by smaller companies to sell their shares when the company is too small to be listed on a formal exchange. Bitcoin OTC desks allow users to purchase large amounts of currency without moving the markets and subsequently, the price of their transaction. The first OTC desk was launched in 2014 by Circle because many Chinese miners, like Bitmain and Antpool, needed places to sell mined BTC to finance their operations.