The sleeping whale of the Satoshi era has awakened. Just like a bear after hibernation, it transferred almost $10 billion in Bitcoin, and this was its first move in 14 years. Fourteen years! The last time this wallet moved was when Obama was just moving into the White House.
And you know when exactly it came to life? Right at the moment when the U.S. Senate decided to 'save us from cryptocurrencies' by passing the GENIUS bill. (A wonderful name, by the way, brilliantly confusing who exactly it helps.)
Are whales in a panic?
So here it is. Whales, and these are not just rich guys, but real financial dinosaurs, suddenly started to move. Billions in motion. Why? Because someone in Washington suddenly remembered that people can manage their money without the Fed's permission. And this, as you understand, is unacceptable.
The so-called GENIUS bill requires audits of stablecoins, increased regulation of exchanges, and, according to one analyst, could even burst the 'greatest bubble in history,' Bitcoin. This is the same analyst who probably bought Enron and bet on MySpace's growth.
Is the market in a panic?
Against the backdrop of this bill, we have volatility. Journalists are shedding tears. Traders are whispering 'bear market.' Twitter, as always, is on fire. Some think: 'Oh God, it's all gone!'
But wait. It's not all bad.
ETFs continue to buy
While someone is panicking and hitting 'sell', institutional investors, the real sharks of Wall Street, are calmly buying Bitcoin through ETFs. And not just buying, they organized a real shopping tour: 11 consecutive days of net inflows, just on Thursday $522 million.
It's like if a zoo opened a tiger cage, and at the same time millionaires lined up to feed them meat — their dollars.
What is the government doing?
Oh, you will be delighted. It is doing what it does best, creating problems that it then bravely solves.
'There are no rules in cryptocurrencies,' shout the senators.
And who, may I ask, didn't bother to introduce them in the last 10 years? Who ignored the industry while people were building the future in Web3, DeFi, and metaverses?
And now, bam, three bills in a week. Apparently, it's election season, and someone urgently needed to show that they can print not only money but also laws.
What is all this for?
You can panic. Or you can remember:
Whales are not stupid.
ETFs do not invest in scams.
And when the government starts to push, it often means they're afraid of something.
Bitcoin is not just code. It's an idea. And you cannot arrest an idea. Even if you call it the 'GENIUS bill'.
If you woke up today and thought, 'Why is Bitcoin dropping?', the answer is simple:
Because someone there on Capitol Hill finally realized they can't control it.
And this is truly genius.
