Bitcoin OG Willy Woo has sold most of his Bitcoin: Here’s why

Bitcoin Pioneer Willy Woo Sells Majority of His Bitcoin Holdings

In a surprising move, renowned on-chain analyst and early Bitcoin adopter, Willy Woo, has revealed that he has sold a significant portion of his Bitcoin holdings. This announcement has sent ripples through the Indian crypto community, prompting discussions and speculation about the rationale behind his decision.

Why the Shift? Investing in Bitcoin Infrastructure

While seemingly counterintuitive, Woo’s decision stems from his belief that greater returns can be achieved by investing in the infrastructure that supports the Bitcoin ecosystem. He views these early-stage ventures as having a higher growth potential than simply holding Bitcoin.

Woo, a co-founder of crypto quant fund Crest, suggests that Bitcoin’s current market capitalization of approximately $2 trillion limits its future growth potential. He estimates a possible 50x growth to $100 trillion as a likely ceiling. He believes that innovative Bitcoin startups present a more lucrative opportunity for exponential returns.

The “Shovels During the Gold Rush” Analogy

Woo likens his investment strategy to “selling shovels during the gold rush.” Instead of directly participating in the price appreciation of Bitcoin, he is focusing on supporting the development of essential services and technologies that enable the Bitcoin network to thrive.

Potential for Exponential Returns

He believes that investing in the building blocks of the Bitcoin ecosystem offers the possibility of significantly higher returns. “If you were to look at a Bitcoin venture, you’ve got, you know, a good venture is 100 to 1,000x return,” he stated.