He goes nowhere if people don't sell to him.  Don't sell, you lose nothing.  Don't sell, he gets impatient and goes elsewhere.  Don't sell to him and his ask price has to go down or he feels stuck with shares.

He's just taking advantage of those who somehow feel the need to sell.  Hang on to your shares.  

Another idea is not to sell to him, but keep buying his shares.  Sooner or later, he'll run out.