Bitcoin may be in the middle of an unofficial initial coin offering (ICO) as OG coin holders and fresh blood scoop up tokens, distributing the supply to a wider number of people, macro analyst and Wall Street Old Hand Jordi Visser.
On a Saturday episode of entrepreneur Anthony Pompliano’s podcast and a post on Subtack, Visser said old coins has been dormant for years is moving“Not all at once. Not in a panic. But steadily,” and new investors will come in, “accumulating in dips.”
“In the traditional world, this moment is called an IPO. This is the moment when the early believers cash out, when the founders become rich, when the capitalists return money to their limited partners,” he said.
“The chaos of concentration has been replaced by the strength of distribution. 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 what Bitcoin has.”
Bitcoin is going sideways in the merger move
Bitcoin (BTC) has been changing between $ 106,786 and $ 115,957 in the last seven days. Visser said when a The company goes public And as early investors begin to sell their positions, the stock often consolidates, even with broader market rallies.
The new hands are Bitcoin stacking but they are moving cautiouslywaiting for distribution to a wider market to be complete before getting more aggressive.
“The result? A sideways grind that drives everyone crazy. The fundamentals are sound. The broader market is rallying. But the stock is … sitting there,” Visser said. “The marriage was frustrating. The feeling was terrible.”
“This is the exact pattern you see after a major IPO when the lock-up periods expire. The stock doesn’t crash. It consolidates. Early investors sell. New long-term holders accumulate. Ownership transfers from visionaries to institutions,” he added.
Faith continues to grow, despite price pressure
The Crypto Fear & Greed index, an indicator that tracks market sentiment toward bitcoin and cryptocurrencies, has been Coming back The “fear” ratings from Wednesday and also have the average fear rating of the previous week.
However, Visser thinks there is still faith in the underlying property, as shown by the constant Approval of Fund exchanged by FundBitcoin Network Hashrate hitting new highsand growing adoption of StableCoin.
“In a bear market, there are no buyers. The price falls because everyone wants it and nobody wants it. But look what’s really happening: Bitcoin is consolidating, not collapsing. Every dip is buyable. The price doesn’t make new lows, it holds a range,” said Visse.
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“The differentiation from risk assets is confusing. But the foundations are stronger than ever. And the structure, the distribution of holdings from concentrated to fragmented, is exactly what Bitcoin needs to graduate from a revolutionary experiment to a durable financial asset.”
The IPO process will continue to play out
The “IPO” phase will likely continue longer, according to Visser, as they typically last six to 18 months, and while Bitcoin moves faster than common assets, the process is still around the six-month mark on the timeline.
When it ends, one of the The results are likely to reduce volatilitywhile the ownership is distributed among many people, compared to the previous holders and founders.
“For now, expect continued consolidation. Expect Bitcoin to keep disappointing people by not rallying in risk assets. Expect sentiment to remain tough for longer but be cautious because there will be no signal. It will only start because the good news is already there.”
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