Cryptocurrency analyst Willy Woo said Wednesday that while HODLing is an important aspect of Bitcoin (CRYPTO: BTC) investment, there was nothing wrong with periodic selling to reduce supply centralization.
What Happened: In an X post on Tuesday, Woo was justifying his decision to dump all of his Bitcoin holdings.
He acknowledged that self-custody HODLing is “incredibly important,” but there are exceptions to the rule.
“Consider whales, they HODL large concentrations of the supply and are a risk to the system. Whales divesting gradually (as they do in every bull market) is a good thing,” the Bitcoin maximalist said.