Is Bitcoin the New Gold? Spoiler: It’s Not Going Anywhere! 💰🚀
Ah, the glorious rise of Bitcoin! Like a phoenix from the ashes, it has sparked a cacophony of debates about demand, supply, and the future of the crypto cosmos. While many investors are dreaming of price milestones that soar beyond $110K, our dear Bitwise CEO, Hunter Horsley, has a rather intriguing perspective on the impending revolution. 🧐
According to the sage Horsley, once Bitcoin (BTC) struts past the $130,000 to $150,000 mark, those long-time holders—who’ve been hoarding their digital gold like squirrels with acorns—will likely stop selling. Why? Because many of these wise souls snagged their Bitcoin at prices that would make a bargain hunter weep with joy. The recent price surges? Just a delightful excuse for profit-taking! 💸
I think once Bitcoin breaks through eg $130-150k, no one is going to sell their Bitcoin.
Right now at $100k, it seems individuals who hold a lot of Bitcoin that was bought a long time ago at very low prices, are selling some.
That said, once Bitcoin breaks new levels, this…
— Hunter Horsley (@HHorsley) June 10, 2025
But wait! The plot thickens. Horsley believes that as Bitcoin ascends to dizzying heights, holders will become so confident that instead of selling, they’ll explore alternative liquidity options—because who wants to part with their precious assets? This delightful shift could further tighten the supply and send prices soaring like a kite in a hurricane! 🎈
Of course, not everyone is sipping the same Kool-Aid as Horsley. Detractors argue that the age-old ‘buy-and-sell’ dance will trigger profit-seeking behavior, leading to a flurry of sell-offs as prices rise. Yet, current market data seems to nod in agreement with our dear CEO. 🤔
Bitcoin Supply Dries Up
Recent on-chain analytics have unveiled a tightening BTC supply, a dip in short-term selling pressure, and a growing confidence among investors to hold onto their Bitcoin for the long haul. According to a June 10 CryptoQuant report, the amount of Bitcoin lounging on exchanges is steadily decreasing. 📉
In the past year alone, over 550,000 BTC has been whisked away from centralized exchanges. The numbers are building on previous findings that exchange balances have plummeted to their lowest levels in over eight years—an unmistakable sign that more investors are opting to stash their assets away like a secret treasure rather than sell them. 🏴☠️
Adding fuel to this supply crunch is the insatiable institutional appetite for Bitcoin. From ETFs to national reserves, the financial titans of the world are establishing long-term positions. U.S.-listed Bitcoin ETFs, which launched in January, now hold around 6% of the total BTC supply, and more countries are contemplating their own dedicated Bitcoin reserves. 🏦
Unlike the retail traders chasing fleeting gains, these institutional investors are in it for the marathon, not the sprint. This supports the notion that more Bitcoin may be whisked away from circulation, held tightly for the long haul. 🏃♂️💨
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2025-06-12 11:01