This should not be too surprising as most wealth is created when entrepreneurs sell their stakes into the public market when valuations are best. Early believers did the same as prices skyrocketed. This makes sense as we have definitely seen weaker hands in the market since January as markets have dipped. However, fundamentals for long term usebof Bitcoin contin to prevail as store of value use could be key as investors seek protection from inflation and economic challenges in these traditional markets.
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Yeah I agree it shouldn't really be shocking but interesting to see the data behind it. When Bitcoin essentially went from $1k to $20k, that's life changing wealth for many people I'm sure. Tough to not take profits there