Bitcoin OG Willy Woo has sold most of his Bitcoin: Here’s why
Bitcoin OG Willy Woo believes that his more recent investments have the potential for even higher returns than simply holding Bitcoin.
Veteran Bitcoiner Willy Woo has done the unthinkable and cashed out most of his stack.
Ive sold most of my Bitcoin now, the legendary onchain analyst cheerfully tells Magazine.
But what on earth possessed the industrys best-known onchain analyst to give up on the hardest money known to man? Has he gone mad?
It turns out that Woo believes he can make more money selling shovels during the gold rush, than buying gold, with most of the proceeds of his Bitcoin sales reinvested into Bitcoin infrastructure.
The co-founder of crypto quant fund Crest explains that Bitcoins market capitalization is around $2 trillion, which means it probably has at best 50x growth to $100 trillion, which he believes will be near the ceiling.
Woos thesis is that early-stage Bitcoin startups have the potential for even better returns from here on in.
If you were to look at a Bitcoin venture, youve got, you know, a good venture is 100 to 1,000x return, he says.