Bitcoin may be trading laterally, but Jordi Visser maintains that confidence remains in the foundational asset, which is demonstrated by ETF endorsements and the Bitcoin network’s processing power reaching unprecedented levels.
Bitcoin is currently undergoing an initial public offering (IPO) cycle as veteran holders divest and new participants acquire the digital tokens. This action is dispersing the supply among a wider contingent of individuals, according to macroeconomic commentator and Wall Street veteran Jordi Visser.
In a Saturday installment of entrepreneur Anthony Pompliano’s podcast and a Substack missive, Visser affirmed that legacy coins that have remained inactive for prolonged periods are currently transitioning: “Not simultaneously. Not in a frenzy. But consistently,” and fresh investors are engaging, “amassing on price declines.”
“In the traditional world, this moment is called an IPO. It’s the moment when early believers cash out, when founders become wealthy, when venture capitalists return money to their limited partners,”
he said.
“The excitement of concentration is being replaced by the durability of distribution. The early believers are passing the torch to long-term holders who bought at higher prices and have different motivations. This is what success looks like. This is Bitcoin having its IPO.”
Bitcoin Trades Sideways Amid Ongoing Consolidation Phase
Bitcoin, currently valued at, has seen its price oscillate between $106,786 and $115,957 throughout the preceding week. Visser contended that when an enterprise initiates its public debut and founding financiers commence liquidating their stakes, the stock frequently stabilizes, even amidst widespread market advances.
Novice investors are accumulating Bitcoin, but they are proceeding prudently, awaiting the dispersal among a more expansive market to be finalized before adopting a more assertive posture.
“The result? A sideways grind that drives everyone crazy. The fundamentals are fine. The broader market is rallying. But the stock just… sits there,” Visser said. “The consolidation is frustrating. The sentiment is terrible.”
“This is the exact pattern you see after a major IPO when lock-up periods expire. The stock doesn’t crash. It consolidates. Early investors sell. New long-term holders accumulate. Ownership transfers from the visionaries to the institutions,”
he added.
Investor Confidence Remains Strong Despite Ongoing Price Pressure
The Crypto Fear & Greed Index, a measure that monitors market disposition toward Bitcoin and digital assets, has been registering “fear” assessments since Wednesday. It also displayed an average fear appraisal for the preceding week.
Nonetheless, Visser contends that confidence persists in the foundational asset, which is evidenced by continuing exchange-traded product endorsements, the Bitcoin network’s processing power achieving record levels, and increasing stablecoin utilization.
“In a bear market, there are no buyers. Price collapses because everyone wants out and nobody wants in. But look at what’s actually happening: Bitcoin is consolidating, not collapsing. Every dip gets bought. The price isn’t making new lows, it’s holding a range,”
Visser said.
“The divergence from risk assets is confusing. But the fundamentals are stronger than ever. And the structure, the distribution of holdings from concentrated to fragmented, is exactly what Bitcoin needs to graduate from a revolutionary experiment to a durable monetary asset.”
The IPO Cycle Expected to Continue Unfolding
The initial public offering (IPO) period is predicted to persist for an extended duration, Visser suggests, because such cycles typically extend from six to 18 months. Although Bitcoin advances more rapidly than conventional holdings, the entire operation is still situated around the six-month point on its schedule.
When this process concludes, one of the consequences is anticipated to be diminished price fluctuations, as possession is dispersed among a significantly greater contingent of investors, rather than concentrated solely with the initial financiers and originators.
“For now, expect continued consolidation. Expect Bitcoin to keep frustrating people by not rallying with risk assets. Expect the sentiment to remain poor for a little while longer but be wary because there will be no signal. It will just start because the good news is already present.”
