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Who’s selling their bitcoin?

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by COINS NEWS 7 Views

Who’s selling their bitcoin?

Im starting to see a lot more people coming out talking about how bitcoin is a giant Ponzi scheme and “greater fool theory”. Let’s explore this for a moment.

Starting with, why is it dropping right now?

The short answer is: it’s y’all. Retail. The Steve’s and Jane’s of the world. How do I know this? It’s pretty easy. Ask yourself: who’s NOT selling?

See pictures above.

Is it the federal governments? US, China, etc? No.

Microstrategy? Certainly not.

BlackRock? Nope.

So let me get this straight. Some of the biggest economies of scale in the WORLD (countries, massive public companies, and giants like BlackRock) are aggressively accumulating bitcoin, refusing to sell a single one. And yet, Joe Schmoe chimes in and says “Hey, you know it’s all a scam, right?”

Let’s clear one thing up: Bitcoin has value because we all agree it has value. That’s EXACTLY how regular currencies work, too. You think the dollar has intrinsic value? A piece of fancy paper? Or is it the collective agreed upon value that gives it utility?

Institutional bitcoin holding accounts for about 10% of the total bitcoin. Retail accounts for about 88% and the other 2% are the “whales”.

When the retail sector panic sells and dumps the price, you know who’s stepping in to buy it at a discount? (Clue: see pictures above). They’re going to take that 10% to a much higher number. When the miners aren’t supplying as much new bitcoin, the institutions in control are going to get it the way they’ve been learning how to do for decades: manipulate the market, scare off the paper hands and get them to panic sell, and pick up their scraps and sell it back to them later for twice the cost.

Just because something “makes sense” doesn’t mean that’s the way it is going to be. Sure. Arbitrary ones and zeroes on a computer are objectively meaningless. And yet, those arbitrary ones and zeroes is exactly the form 99% of us carry our cash in anyway: in a digital account, not cash stuffed in a mattress, not gold buried in the backyard, but your banking app and credit cards.

If you’re not buying and holding long term, or if you’re not touching it at all because you think you’re somehow smarter than the most powerful financial institutions on the planet, ask yourself: Am I ignoring this because I’m actually better at playing the game? Or am I ignoring this because I do not like the rules of the game I’m playing?

Keep selling. Keep waiting. Keep turning away. When the world keeps plowing forward without you, and bitcoin continues to dominate, I’ve got news for you: the “greater fool” may end up being you.

submitted by /u/Frequent-Walrus-1832
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