> A market maker or liquidity provider is a company or an individual that quotes both a buy and a sell price in a tradable asset held in inventory, hoping to make a profit on the bid–ask spread, or turn.[1] The function of a market maker is to help limit price variation (volatility) by setting a limited trading price range for the assets being traded.

> In U.S. markets, the U.S. Securities and Exchange Commission defines a "market maker" as a firm that stands ready to buy and sell stock on a regular and continuous basis at a publicly quoted price.

The concept of the market maker is that, if you as a third party want to buy or sell whatever it is, you can do that because the market maker will instantly fill your order. ("Liquidity provider".) Without the market maker, your buy/sell order would have to wait around indefinitely for someone else to file a matching sell/buy order.

In particular, note that placing a buy order without a corresponding sell order doesn't satisfy any definition of market making. And if it did, limiting the order to 1 bitcoin would still be disqualifying; to fill the role of liquidity provider, the market maker must stand ready to buy as many bitcoins as anyone wants to sell.