Bitcoin In IPO Phase As Early Holders Give Way to New Investors – Crypto News

Bitcoin could be in the middle of an unofficial initial coin offering (ICO) as OG 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.

“The excitement of concentration is being replaced by the durability of distribution. The early believers are passing the torch to long-term holders who bought at higher prices and have different motivations. This is what success looks like. This is Bitcoin having its IPO.”

Bitcoin going sideways in consolidation move 

Bitcoin (BTC) has been fluctuating between $106,786 and $115,957 over the last seven days. Visser said when a company goes public and early investors begin to sell their positions, the stock often consolidates, even during broader market rallies. 

New hands are stacking Bitcoin but they are moving cautiously, waiting for the distribution among a broader market to be complete before getting more aggressive.