RATE Group | Willy Woo: Exchanges To Outpace Miners as Sellers Of Bitcoin (BTC)
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Willy Woo: Exchanges To Outpace Miners as Sellers Of Bitcoin (BTC)

09 May Willy Woo: Exchanges To Outpace Miners as Sellers Of Bitcoin (BTC)

Posted at 16:37h in Bitcoin News by

In brief:

  • In a recent twitter thread, Willy Woo postulates that post-halving, miners will cease to be the largest sellers of Bitcoin. 
  • Crypto exchanges will lead in selling BTC collected as fees to convert into fiat. 
  • This is similar to how miners dump Bitcoin for fiat. 
  • Crypto exchanges offering futures trading have changed the selling dynamics of BTC. 

It is a long-held fact that Bitcoin miners are the largest sellers of BTC to convert their holdings into usable fiat that usually facilitates in paying operation costs for their mining activities. However, veteran Bitcoin analyst, Willy Woo, believes that they will cease to be the leading sellers of BTC. That mantle will now be occupied by crypto exchanges selling the BTC attained from fees in exchange for fiat.

Mr. Woo further explained that this will occur post-halving as miners’ rewards are halved.

Post this 2020 halvening miners will cease to be the biggest sellers of Bitcoin. It’ll be the…

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