Bitcoin might be moving sideways, but Jordi Visser says there is still faith in the underlying asset, as shown through ETF approvals and the Bitcoin network hashrate hitting new highs.
Bitcoin could be in the middle of an unofficial initial coin offering (ICO) as OG coin holders rotate out and fresh blood scoops up the tokens, distributing the supply across a broader number of people, macro analyst and Wall Street old hand Jordi Visser says.
In a Saturday episode of entrepreneur Anthony Pompliano’s podcast and a post on Substack, Visser said old coins that have been dormant for years are on the move, “Not all at once. Not in panic. But steadily,” and new investors are stepping in, “accumulating on dips.”
“In the traditional world, this moment is called an IPO. It’s the moment when early believers cash out, when founders become wealthy, when venture capitalists return money to their limited partners,” he said.
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