Anthony Scaramucci, founder and managing partner of SkyBridge Capital and chairman of SALT, explained the reasons behind the increase in Bitcoin selling last year. According to him, some long-term holders who had owned their coins for 10–15 years saw $100,000 per coin as a psychological threshold and began taking profits, adding to selling pressure in the market.
He suggested that some market participants entered the year expecting a so-called Bitcoin supercycle, while others believed the asset was still following its historical four-year cycle.
“When the market reached a turning point, bullish expectations turned into a self-fulfilling prophecy and intensified the wave of selling,” the investor said.
A New Profile of Bitcoin Holders
John Darsie, CEO of SALT and a partner at SkyBridge, described the shift as part of the market’s maturation.
“Long-term holders and libertarian-minded investors are gradually selling part of their positions, while institutional investors, financial advisers, and family offices are increasingly adding Bitcoin to their portfolios. This has led to lower volatility and could benefit Bitcoin as a store of value,” he said.