Troy Gayeski, co-chief investment officer and senior portfolio manager at SkyBridge Capital, a hedge fund with $7.5 billion in assets under management, has revealed he believes a Bitcoin supply shock may be around the corner.
During an interview with Bloomberg, Gayeski noted that on-chain signals indicate “strong holders” are once again accumulating bitcoin while planning to hold onto it for longer periods of time. These holders are buying up coins from speculators who got into the market when BTC’s price started surging. He said:
When we look right now at the on-chain, data what is basically telling you is a lot of the strong holders are reasserting themselves and accumulating from those that got into the market late last year. And that it is setting itself up for some type of supply shock, very similar to what we had last October/November.
