The Gox distribution is probably the last large telegraphed unlock of BTC we will see enter the market
So much looming fear, but for context Blackrock has acquired 303k BTC since their ETF went live earlier this year - that's the equivalent of +2x Mt. Gox (141,686 BTC).
Fidelity has also acquired 174k BTC, 1.23x the size of Gox.
Fidelity & Blackrock together is like 2.1 Michael Saylors entering the market in less than 165 days.
Meanwhile, it took Saylor (Microstrategy) 1207 days to get to where he is.
Biggest beneficiaries of the Gox sellers are the ETF issuers, Bitcoin DeFi & new Bitcoin primitives @babylon_chain , @lombard_finance , etc
Zoom out and its always just a transfer of coins from low conviction short-term holders, to high conviction long-term holders
There is only so much coin
So much looming fear, but for context Blackrock has acquired 303k BTC since their ETF went live earlier this year - that's the equivalent of +2x Mt. Gox (141,686 BTC).
Fidelity has also acquired 174k BTC, 1.23x the size of Gox.
Fidelity & Blackrock together is like 2.1 Michael Saylors entering the market in less than 165 days.
Meanwhile, it took Saylor (Microstrategy) 1207 days to get to where he is.
Biggest beneficiaries of the Gox sellers are the ETF issuers, Bitcoin DeFi & new Bitcoin primitives @babylon_chain , @lombard_finance , etc
Zoom out and its always just a transfer of coins from low conviction short-term holders, to high conviction long-term holders
There is only so much coin
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