Wall Street Stopped Asking Who Buys Bitcoin. Now It Asks Who Sells.

From Yesterday's Simply Bitcoin Live | Episode 1601

The Numbers

Bitcoin dipped toward the low 80s this morning before climbing back near 84,000, extending last week's bullish weekly close.

The News

BlackRock's Robert Mitchnick got asked on stage at the Bitcoin Treasury Conference where the next $500 billion is coming from. His answer: wrong question. He argued the real story is seller exhaustion, the person who wanted out at $100,000, or at $60,000 during the crash, already sold and left.

The tape backs him up. BlackRock led the ETFs to their biggest weekly buy of 2026 last week, about 25,000 BTC, pulling more than 50 days of new supply off the market in five trading days.

The demand question answered itself before he finished talking.

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After weeks on the sidelines, Saylor added 1,666 BTC and Strategy tacked on another 1,000, close to 2,000 coins between them, announced the same morning.

The bigger tell: Strategy just switched its Stretch product to daily dividends, days after Matt Cole's Strive made the same move first.

When your rival sets the pace on your own product, that's not competition. That's the market picking a winner.

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At the same conference, Strive's Matt Cole and financial advisor Ric Edelman landed on the same number: $500,000 Bitcoin by 2030. Edelman's math is blunt. If the world's asset owners put just 1% of their wealth into Bitcoin, that is $500,000 a coin. At 2%, it's a million.

Edelman's sharper point was about the floor. This cycle's drawdown only hit 54% off the high, nowhere near the 80% collapses of past cycles, because institutions bought the dip instead of panicking.

Smaller crashes might be the actual bull case now.

The Culture

Guest Segment

Simply Bitcoin launched a new segment this week built around real Bitcoiners instead of traders. First up: the team behind the Bitcoin Golf Championship, heading into its fourth year in Nashville with a 2027 prize pool that guarantees $10,000 in Bitcoin to the winner.

The best detail: the community's favorite memory is a hole in one on the wrong hole. It happened on hole 17, not the Bitcoin-branded hole worth a full coin, and the friend filming it forgot to hit record.