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In his latest Street Sense column for MarketWatch R360’s Charlie Garcia explains that bitcoin isn’t in trouble. It’s going through a silent IPO—early holders are finally cashing out while new buyers come in through ETFs and institutions. The result, Charlie argues, is the same sideways grind Amazon, Google, and Meta saw after their IPOs, not because the story is broken, but because ownership is shifting. We’re likely 8–10 months into a 6–18 month transition.
And unlike 2022’s panic selling, today’s sellers are wealthy early adopters taking profits. The long-term fundamentals are intact, which is why Charlie is still buying bitcoin—for the portfolio with the longest time horizon he manages: his grandkids’.
Read the column here: https://www.marketwatch.com/story/bitcoin-isnt-dead-its-having-an-ipo-moment-heres-when-the-selling…