Mark Moss breaks down Bitcoin's surge: Jane Street accumulated roughly $988 million in Bitcoin, institutional wallets added 47,000 BTC in 60 days while retail sold, and Stanley Druckenmiller's family office is rotating from AI into Bitcoin mining. Fed easing and constrained supply create what Moss calls a perfect storm.
Bitcoin's exploding, but why? And more importantly, will it continue? Well, let me give you 3 reasons why it's happening and why it's going to continue. Number one, everyone's looking at the price, trying to think that the price has some signal. There's no signal in the price. The price tells you what happened. It's a lagging indicator. So what, what did happen? Let's look back about 90 days. Okay, so 3 things. Number one, the big whales were positioning. So number one, uh, Jane Street, one of the largest market makers in all of Wall Street, quietly, you know, when no one was paying attention, added almost $1 billion, $988 million of Bitcoin. Why? To provide liquidity as a market maker for Wall Street. Okay, that was getting the big dogs ready to eat. Number 2, we see the whales. So wallets that hold more than 10,000 Bitcoin in the last 60 days added 47,000 Bitcoin, about $2.9 billion, while the small wallets, 10 Bitcoin or less, sold 10,000. So retail was selling while institutional big hands were acquiring massive amounts of Bitcoin. And then number 3, The GOAT, the greatest of all time investor. We're talking about Stanley Druckenmiller. His family office announced in the quarterly filing—it's what happened—announced that they started rotating out of their AI positions and into Bitcoin positions, specifically into Bitcoin mining positions, which actually is a bridge between AI and Bitcoin. So you can see that all of this was happening at the same time, of course, as the Fed and the Treasury were opening up, were lightening. Liquidity conditions. Okay, so we have the perfect storm. All of the wells were adding up, liquidity was rising at the same time while the supply was restricting, and then we have the price explode. But will it continue? Well, based off of the action that started happening, it will. The capital is starting to rotate back, right? Capital moves like energy. It doesn't disappear, transfers. Went into AI, now it's coming back to Bitcoin and gold. The ETFs are reporting that the gold and Bitcoin inflows are far surpassing inflows into any AI-related semiconductor-type stuff. The capital rotation's on. Bitcoin pump's here to stay. Get in before you get left behind.
