Udi Worthheimer is a cryptocurrency commentator who spoke exclusively to Cointelegraph. He explains a controversial thesis. Over the past five-years, many institutions quietly purchased old Bitcoin.BTC) holders — and it’s reshaping the market in a way few have appreciated.
“For the last five years, they’ve been buying out old holders of Bitcoin,” Udi explains. “Both kind of old Bitcoin maxis, but also… people who always had some portion of Bitcoin and have been selling it over time to get into ETH (ETHSolanaSOL“, or anything else.”
These new buyers aren’t flippers. “forced buyers.” Udi cites Michael Saylor’s Strategy in particular as an example. “If Saylor stops buying Bitcoin for a sustained period of time, his company loses all of its value… he has to keep coming up with more new, original ways to raise capital to buy Bitcoin.”
Udi claims that this is unprecedented. “Bitcoin in the past had many instances of forced sellers… This is the first time that we have a forced buyer — structural, forced buyer — who has to buy no matter what.”
It’s a result of this, says he, that we have become enslaved. “at the very tail end of old holders rotating out” The supply crisis is threatening to explode. “Wall Street bought all of our Bitcoin. We didn’t notice.”
Udi has even floated a price-target that may sound insane at first but could soon seem tame. “I think 400K is conservative.”
The exclusive Cointelegraph interviews is packed full of insight that challenges mainstream crypto thinking.
Watch the full conversation Hear Udi explain his full argument and how he believes the next Bitcoin rally may leave the crypto-natives behind.
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Source: cointelegraph.com
