2357: Bitcoin Sellers Exhausted - $10M BTC Case Strengthens

**Justin Verrengia** (0:00)
Bitcoin is crashing, and I couldn't be happier. But seriously, the deeper this thing goes, the more bullish I become. Let me show you why. Bitcoin just got cheaper, and the path to $10 million Bitcoin just got stronger. I know it sounds insane, until you realize what actually happens during every major correction. The weak hands leave, the tourists disappear, the impatient sellers finally give up, and their Bitcoin moves into the hands of people who have no intention of selling. We've seen it before. Bitcoin crashed from $32 to $2.
Then it went higher. Bitcoin crashed from $213 to $70, and went higher. Then Bitcoin crashed from $1,200 to $200, and went higher. Bitcoin also crashed from $20,000 to $3,000, and then it went higher. Bitcoin also crashed from $60,000 to $15,000, and then it went higher. Every cycle, the story changes, but the transfer stays the same. The sellers panic, the buyers accumulate, and ownership moves from weak conviction to strong conviction. That's the part most people miss. Everyone watches the price, but almost nobody watches who owns the Bitcoin. That's why these moments matter. Not because Bitcoin is falling, but because sentiment is. And sentiment is what creates opportunity. Think about it. Nobody gets excited when Bitcoin is crashing. Nobody feels smart buying during fear. Nobody rings the bell at the bottom. In fact, the opposite happens. The headlines get worse. The predictions get darker. The confidence disappears. And that's what we're seeing right now. More than $700 million was liquidated from the market in just a few hours. Fear spreads. Leverage gets wiped out. Weak conviction leaves. And every cycle, people convince themselves that this time is different. But history keeps repeating. 12 years ago, Bitcoin crashed roughly 50 percent in hours. Most people assumed it was over. Instead, it went on a rally from $120 to $1,100.
Different cycle, different headlines, same psychology. Because Bitcoin's biggest gains have never come when confidence was high. They came after confidence collapsed. Today, public companies hold roughly 1.15 million Bitcoin. US spot Bitcoin ETFs hold roughly 1.5 million Bitcoin. Strategy alone still holds 843,706 Bitcoin. BlackRock's iBit holds roughly 791,000 Bitcoin. Together, just these two entities control more than 1.6 million Bitcoin. And neither one built its strategy around selling Bitcoin. And the list of potential buyers keeps growing, not shrinking. A Strategic Bitcoin Reserve has been proposed in the United States. One version of the plan calls for acquiring 1 million Bitcoin. That's 200,000 Bitcoin being acquired per year, every year, for five years. Think about that. People are panic selling while governments are debating how much Bitcoin they should own. That's the disconnect. The headlines focus on fear. The long-term trend keeps pointing towards accumulation. People keep asking who is selling. Almost nobody ask. Who is buying? That's the question that matters. Because every Bitcoin sold requires a buyer on the other side. And the deeper the correction becomes, the more important that buyer becomes. Meanwhile, between 2.3 million and 3.7 million Bitcoin are estimated to be permanently lost. So while fear spreads, something else is happening. Ownership is concentrating. The strongest hands continue absorbing supply. The weakest hands continue giving it up. And that's why every major correction looks bearish in the moment and bullish in hindsight. Because Bitcoin doesn't reach 1 million or even $10 million when everyone buys. It reaches those levels when enough Bitcoin ends up in hands that refuse to sell. So here's the question. If weak hands are leaving right now, who do you think is taking ownership of their Bitcoin? People have declared Bitcoin dead over and over and over again. And every single time they've been wrong, check out this video. It speaks volumes.

**SPEAKER_2** (4:04)
This one time, Bitcoin went from 6 cents all the way to 36 cents. And then it crashed down to 21 cents. And then another time, Bitcoin went from 85 cents all the way to $29. And then it crashed to $3. And then another time, Bitcoin went all the way to $213.
And then it crashed all the way to $70. And then another time, Bitcoin went all the way to $1100. And then it crashed all the way to $239. So the moral of the story is, don't buy Bitcoin, because you know it's going to crash.

**Justin Verrengia** (4:39)
He nailed it. Never buy Bitcoin. You know it's going to crash, so why even waste your time with it? Pretty eye-opening to see that, especially if you're new to the market and you've never seen what has happened in the past. So this lets us know this is nothing new. Bitcoin is very volatile asset, and that's one of the advantages. It's one of the benefits of Bitcoin. It just creates more opportunity. And right now there is a transference of wealth occurring. The weak hands are giving up their Bitcoin to the diamond hands. And Bitcoin's only going to do what it does best after a crash and reach new all-time highs. And then everyone who sold their Bitcoin is going to be crying, mark my words.