FameEX Hot Topics | Wall Street Veteran: Bitcoin Enters Its IPO Era

Wall Street veteran Jordi Visser declares Bitcoin is undergoing its “IPO moment.” In a podcast with Anthony Pompliano and a Substack post, he explains that original holders (OGs) are gradually rotating out, moving dormant coins that haven’t stirred for years. “Not all at once. Not in panic. But steadily,” Visser notes. New investors are stepping in, accumulating on every dip, broadening token distribution across a wider base of holders.

Visser likens the shift to a traditional IPO: early believers cash out, founders gain wealth, and venture capitalists return capital to limited partners. “The excitement of concentration is being replaced by the durability of distribution,” he says. Long-term buyers entering at higher prices carry different motivations than the visionaries. This handover marks success—Bitcoin transitioning from concentrated ownership to institutional-grade fragmentation, the hallmark of an asset maturing into a durable store of value.

Over the past week, Bitcoin has traded sideways between $106,786 and $115,957. Visser compares the grind to post-IPO stocks when lock-up periods expire: early sellers exit, new hands accumulate cautiously, and price consolidates even amid broader rallies. “The result? A sideways grind that drives everyone crazy,” he observes. Sentiment sours—the Crypto Fear & Greed Index has flashed “fear” since Wednesday—yet dips keep finding buyers, preventing new lows and signaling underlying strength.

Fundamentals remain robust. ETF approvals continue, network hashrate hits all-time highs, and stablecoin adoption grows. “In a bear market, there are no buyers. Price collapses,” Visser contrasts. Here, Bitcoin merely consolidates. Ownership transfers from revolutionaries to institutions without collapse, exactly what the network needs to evolve from experiment to monetary asset. The divergence from risk-on markets confuses traders, but the structural shift—spreading holdings from concentrated to fragmented—fortifies Bitcoin’s long-term foundation.

Visser expects the “IPO” phase to persist six to eighteen months; Bitcoin, moving faster than traditional assets, is roughly six months in. Completion should dampen volatility as supply disperses across thousands more hands. For now, anticipate continued range-bound trading, frustration as Bitcoin lags risk assets, and persistently poor sentiment. “There will be no signal,” he warns. The rally will ignite quietly because the good news—distribution, institutional accumulation, unbreakable fundamentals—is already baked in.

Disclaimer: The information provided in this section is for reference only and does not represent any investment advice or the official views of FameEX.