Is It Alarming To Say 80% Of #Bitcoin Holders Have Never Sold Bitcoin?
People arguing against bitcoin often say it has no intrinsic value. 80% of bitcoin holders have never sold bitcoin.
All it takes is a few whales to sell, and then price drops like an avalanche.
And once others see the steep waterfall the herd will follow further driving down price more.
How do you respond to this?
#MichaelSaylor's says the rich dont sell their assets. Is Bitcoin creating this false illusion for people to think they are becoming rich by seeing the price artificially go up due to massive sells/buys (i.e. fire sales only to accumulate more (it's more of a ping pong game)?
What happens when 40% of the 80% of bitcoin holders decide to sell and enjoy their fortunes by buying mega mansions, real estate, cars, etc.?
I would reasonably think since the rich dont sell their assets, most will take what they need and leave the rest in BTC. Similar to real estate. If you own 10 buildings, why in the hell would you sell unless if you really needed the instant cash flow?
