#BinanceHODLerERA Veteran Bitcoiner Willy Woo has done the unthinkable and cashed out most of his stack.
“I’ve sold most of my Bitcoin now,” the legendary onchain analyst cheerfully tells Magazine.
But what on earth possessed the industry’s 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 Bitcoin’s 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.”
Woo’s 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, you’ve got, you know, a good venture is 100 to 1,000x return,” he says.
And even if they crash and burn, many infrastructure firms still offer indirect exposure to Bitcoin through their Bitcoin holdings.
“If they’re not successful, they’re holding Bitcoin. So it de-risks that investment,” he says.
