

'Shakes confidence' comments from veteran Bitcoin (BTC) players spark heated discussions in the community
Jul 30, 2025 pm 08:30 PMTable of contents
- There are "multiple reasons" behind the sale of Bitcoin
- Analysts emphasize Bitcoin is "available for everyone"
?A crypto market observer put forward a different view, saying: “Everyone will go to the end. At some stage, the meaning of wealth accumulation will fade.”
An influential cryptocurrency commentator has caused waves in the community recently. He pointed out that as institutional capital continues to enter, many early supporters of Bitcoin are gradually reducing their holdings, showing signs of weakening confidence.
“Many of the most staunch early giant whales have begun to shake their beliefs and choose to cash out while they are currently at high prices,” Scott Melker, known as the “Wolf of the Street,” wrote in his platform X release on Saturday.
There are "multiple reasons" behind the sale of Bitcoin
Melker commented: “Bitcoin is indeed an extraordinary innovation, but to some extent it is being absorbed and used by the forces originally intended to compete.”
Although Melker clarified that he did not fully agree with this view and only relayed the voice he heard, the remarks still sparked extensive discussions about the contradiction between the trend of Bitcoin's institutionalization and its original intention of decentralization.
Source: Bram Kanstein
Mike Alfred, founder and managing partner of Alpine Fox, said he "seldom" disagrees with Melker, but this time it's an exception. “People’s decision to sell some or all of Bitcoin often stems from multiple factors at the individual level rather than a negation of the agreement or the asset itself,” Alfred explained.
Recently, several Bitcoin pioneers have publicly admitted that they have reduced their holdings. For example, Willy Woo revealed to Cointelegraph that he has sold most of his Bitcoin positions because he believes that investing in the underlying infrastructure of Bitcoin has more long-term returns potential. At the same time, well-known analyst PlanB also disclosed in February this year that he has cleared most of his Bitcoin and instead allocated spot Bitcoin ETFs to simplify asset management and tax compliance.
Alfred further pointed out: "People will die. At some stage, the amount of investment returns is no longer of practical significance."
In addition, Bitcoin advocate Dave Weisberger stressed that full popularity is almost impossible without institutional participation:
Ironically, the so-called "bitcoin standard" would not be implemented without the adoption of institutions in the traditional financial system and the transfer of Bitcoin to these entities.
Analysts emphasize Bitcoin is "available for everyone"
Crypto Mags stressed that Bitcoin itself is not exclusive. He reminded: "Please remember that Bitcoin is for everyone. This 'all' includes so-called opponents, governments, and Wall Street."
Matt Hougan, chief investment officer at Bitwise Invest, said that although he understands Melker's concerns, he firmly believes that Bitcoin is "still disruptive."
"It is the first truly global currency, not relying on state authority or force support, but rather operates based on mathematical logic and community consensus," Hougan emphasized.
Source: Mike Munz
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