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Sourcenode 2y ago

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.

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Discussion

Sourcenode 2y ago

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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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

Neuromancer 2y ago

It’s astonishing that there is a great fear about self custody even amongst the best and the brightest people. Self custody is a real challenge to be solved , people need to be made comfortable with self custody

Sourcenode 2y ago

They will learn one way or another