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I met with someone I know who I would categorize as 'smart money' in the tradfi system.

This is the first time he told me his family is holding a sizable bitcoin position.

They aren't holding it in self custody yet.

His plan is to take profit at 115K. Rather shortsighted in my opinion, but he didn't specify what percentage of his holding he would sell at that level.

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Discussion

Sovereign Being 2y ago

Do you know where he got in?

Sourcenode 2y ago

Not exactly, but it was this year

nobody 2y ago

Most usually sell close to half the position. Hopefully is less than that

Sourcenode 2y ago

Yeah that was my guess as well. Although honestly I would be alright with the existing money elite missing out bitcoin to some degree

nobody 2y ago

Agreed 💯

radii 2y ago

I read some data suggesting that 20% of coins are sold each cycle

Sourcenode 2y ago

I might get a glassnode account for this bullrun. We'll see.

Then I could watch it in real time