Prominent crypto analysts have sparked debate in the Bitcoin community by claiming that Bitcoin OG has lost faith in its assets as Bitcoin OG is increasingly adopted by institutions.
“Many of the most enthusiastic early whales have seen their faith shaking and selling at these prices,” All Street wolves, aka Scott Mercer, told the X-Post Saturday.
There are countless reasons why Bitcoin is sold
“Bitcoin is amazing, but it's clear that it's been adopted to some extent by the very people as something that was created as a hedge,” Mercer said.
Mercer admitted he didn't say he agreed with them and was just “pointing” what he was hearing, but the comments sparked debate over the implications of Bitcoin's original spirit.
sauce: Bram Kanstein
Mike Alfred, founder and managing partner of Alpine Fox, told Melker he “rarely opposes” but he does so on this occasion. “People make the personal decision to sell all the coins for countless reasons that have nothing to do with assets or protocols,” Alfred said.
“Everyone dies. At some point, the return on investment becomes irrelevant,” he added. Meanwhile, Bitcoiner's Dave Weisberger said widespread adoption would not be possible without institutional interest.
“Ironically, through the distribution of legacy institutions and OGs that control the FIAT system, there is no way to Bitcoin standard without the public adoption.”
Bitcoin is “for everyone,” analysts say
Crypto Mags said Bitcoin does not discriminate against it. “We're here to remind you that Bitcoin is for everyone. Everyone includes the enemy, the government, Wall Street,” Crypto Mags said.
Related: When the BTC price rebounds to 118K, Bitcoin Bulls “Control”
Matt Hougan, chief investment officer at Bitwise Invest, said Bitcoin is “still quite innovative” while understanding where Melker came from.
“It's not a threat to state and violence, it's the first global money supported by logic and community,” Hougan said.
sauce: Mike Manz
“Let's respect and continue to build early whales. The world needs Bitcoin more than ever,” he said.
On July 26th, early Bitcoin investors sold 80,000 BTC through Galaxy Digital.
magazine: Robinhood's tokenized stock has stirred up legal wasp nests
