Have 3-4 prominent OG’s on the phone this past week who are all talking about divestment to one degree or another.
Names you would know.
Idk price can always drop some more but it feels kinda like a bottom signal to me.
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Bitcoin Tina buying treasuries again?
I hope so because Bitcoin has been moving weird, it's been very easy to get an entry normally price always liquidates allowing larger players to enter, but not now either we're going lower or there are no more big buyers at least at this price... or time.
Was ridiculously easy for leverage Long's at that previous low. Not a good sign. Don't think sentiment was that negative. Easy bottoms don't form when people are still paying attention.
OGs are going to sell 8M coins to Wall Street before we are done. May as well get it over with now.
Blink twice if Saylor is one of them
So, is Brad Mills back hurting again? 🤣😂
Always lol
Yes
Divest into what instead?
Why would they divest at the bottom?
Cant be price alone…OG’s suffered far worse drawdowns. They’re either questioning the ethos, privacy & health of network or drooling with fomo over missed opportunities in AI (or both.)
Buch of us class of 21’ holdlers have been programmatically desensitized to any feelings or emotions…we fina be the new OG’s.
Gotta make room for a new class of OG somehowhow…
Its price. Some of these guys lost on paper 50-100 million + that fucks with you.
Wake me up when I no longer feel like Saylor's exit liquidity.
Price doesn't need to drop. It just needs to stay the same, while inflation rises. Which is what it's been doing.
One of the best takes on what has happened to the Bitcoin market is from Jordi Visser. We are living through Bitcoin’s IPO moment. A lot of OG’s selling out to new market participants.
That’s certainly a kick in the 🥜
Second bear market I’ve realized one fact that hodling forces upon you - with each bear your nominal paper losses compound, even if your percentage paper losses are diminished. Harder pill to swallow each time.
OG’s have watched a massive cultural shift over the years: buy bitcoin to circumvent the feds and buy drugs anonymously to hey, let’s invite the feds and suits to sanction bitcoin.
I keep reminding myself that 1 btc = 1 btc and that the volatility in exchange rate should work to the upside as long as the perfect monetary properties continue.
See you on the other side.
I know this community hates this, but I don’t blame them. There are get wealthy and stay wealthy behaviors. They aren’t the same thing. It’s why people closer to retirement move from equities to fixed income funds. Once your bitcoin position hits a certain level, it makes sense to reduce some risk to avoid the volatility of the bitcoin price. At a certain amount of bitcoin, even if the price goes 100x from here, it doesn’t change anything materially that much.
buy signal?
I hope you encouraged them to sell.
I must be doing something wrong. I didn't know hodling bitcoin was risky.
Lol, think the point's more about *when* to hold versus when to take profits, not that it's risky full stop. What's your timeline looking like?
I guarantee it
Rothschilds and Rockefellers quietly fleeing, a sure sign the fiat Ponzi is collapsing.
If you were an OG when you were 30, and now you’re 45, you’re likely watching the window close on easy to schedule time with the kids. Easy to see why starting to spend makes sense.
Divest then send it! 🚀
You posting about a bottom Signal is a top signal :( we are going lower ma bro
Can’t be a top signal. False bottom at best.
Im joking, you are a good market timer ❤️
I’m actually half decent at finding bottoms. Horrible at tops like worst of the worst
I’d be super disappointed if one of those is Preston. Guy was instrumental on my journey and I feel like a core piece of my bitcoin experience is gone. It seemed like he was losing interest in bitcoin there towards the end. You could sense the frustration with cold storage bitcoin … the BTCTC craze really caught him and distracted his energy into other shiny things (AI, etc.).
Preston is not on the list. I think Preston had a personal medical situation
Divesting long term? After hodling for 10+ years? Just to take profits and live their life or do they not believe in bitcoin any more?
Hopefully it isn't just the suits that hold most coins after all these 'divestments'
If you're an OG (I'll assume you have more than 1000 coins), there is a big difference between peeling off $10M to live your life vs. selling it all because you don't believe in/care about bitcoin anymore.
Without more details, this post is useless.
Having 90%+ of your wealth in any one thing is risky
These OGs would have been 2x richer last year. Would have probably made more sense to divest then if it was truly just for money/diversification.
I wonder if they are divesting now because of other reasons (lack of faith in bitcoin)
class of 2021
I’ve been thinking this too. Have I got everything thing abt bitcoin wrong?? Then I think of $40 trillion and 21 million and think nah. I’ve got it right. And then I go back to cruising my Hermes Agent which keeps fucking around. Started speaking to me in Chinese today!!!
Price drop creates buying opportunity, like a good steak on sale.
Bitcoin is a great asset and a great network. Still hard to see a 50% drawdown (especially if you have a significant stack) and see the AI stocks and datacenter build-out go vertical.
Google Apple Nvidia Microsoft etc will invest hundreds of billions into AI... yet see Bitcoin's value drop 50% over a year which is hard to watch. It would make anyone think really hard about what they are doing and why so it doesn't surprise me.
Coins will distribute more widely over the next 1000 years. I have no right nor need to know other people’s why since we can just see on chain when it is happening.
We are in diamond-production territory. And you can bet your sweet ass, i am working like a slave to stack as hard as possible for my kids future🫡
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Agreed. If they wanted to diversify then above $100k was the time to do it.
Depends on how you define risk. It has a lot of short term price risk.