Quote of the Day
Capriole Investments’ institutional buying model, which tracks Bitcoin demand from ETFs, corporate treasuries, and miner issuance, shows net institutional selling at around 450% of daily mined supply, equivalent to about 2,000 BTC per day.
In other words, large holders are selling 4-5x more Bitcoin than is mined each day.
Spot Bitcoin ETFs appear to be the biggest drag. Their flow line has fallen sharply below zero, suggesting ETF outflows are now overwhelming other sources of demand.
In the past month, for instance, these funds have witnessed nearly $27 billion in withdrawals, according to data resource Glassnode.
Yashu Gola
June 10, 2026
Bitcoin price may slide toward $30K as institutions dump 450% of daily BTC supply
It appears to me more people are losing faith in Bitcoin.
Prepare appropriately.
I have said all along that crypto currency is tulip bulbs and will die suddenly and horribly when the fad ends.
It has lasted longer than I expected (I think due to the very high level of desire for a currency not controlled by a government, all of whom are printing money at far-past-unsustainable speed), but the end result will still be the same – crypto currency has no backing, so it lives and dies *entirely* by fad.
(And yes, fiat currency *does* have backing – if you don’t pay your taxes with it, men with guns will come take your stuff. It’s not the kind of backing I would prefer, but it works better than tulip bulb fads.)
I suppose having the Federal Government “coin money…” at least partially from silver and gold and other precious metals, as specified in our Constitution, Article 1 Section 8, is too much to ask?
Fiat currency is just another scam; the difference being, it’s run by organized crime we call ‘the State’ instead of charlatans gulling foolish investors in the market
When the melt value of silver and gold coins became greater than the face value should have been treated as a clue-by-four rather than a bug to be eliminated.
Copper and tin, as well. We’re now well on the way to joining the ranks of Italy and the Lira, and countless other Banana Republics who eventually rename the denominations of their monetary systems and knock off a half dozen zeros so the currency is easier to read and isn’t subject to quite so much ridicule (Zimbabwean money anyone?).
Musk may be a trillionarie, but I’ve been a multi trillionarie for years: https://blog.joehuffman.org/2016/01/20/sharing-the-wealth/
I have, somewhere, a cartoon of a small boy telling his father, who is reading a newspaper*, “Dad, I’ve decided to go into Organized Crime.”
Dad asks, “Government or Private?
With the formation of the Federal Reserve, Inflation was baked into the financial system.
With the Seventeenth Amendment, the States lost their seat at the Federal Table.
With the Sixteenth Amendment and the consequent IRS code, the Federal Government was assured of a dramatically larger Income flow than was possible under the Constitution. Fiscal Adventurism naturally followed. The already very wealthy received a method for protecting their income and assets (not the least of which protection came from the concept that proceeds from life insurance was not taxable income), and entrepreneurial businessmen who disrupted “business as usual” received a financial “haircut” every year, keeping them from joining the ranks of old money (effectively a Jizyah) and the old money was able to become an American aristocracy.
“I suppose having the Federal Government “coin money…” at least partially from silver and gold and other precious metals, as specified in our Constitution, Article 1 Section 8, is too much to ask?”
Oh, I don’t think everything is fine and dandy or anything. Just pointing out the difference between government fiat currency and truly unbacked “currency” like BitCoin.
I would very much prefer properly backed government currency.
Bitcoin: A stock in a company that had no product, no service, no plant or equipment, no board, no officers, no employees, no goodwill. It could have been called “The Greater Fool, Inc., except it isn’t even an LLC or a partnership. People “mine” bitcoin in a manner not defined and not at all clear (What IS each Bitcoin Miner’s computer actually doing, and for who?).
As Deoxy said, “How did it last so long?” (multiple generations of people educated — errr, trained by John Dewey so the reasoning ability hardly goes from A to B, and C is much too far away to contemplate, let alone analyze).
“(What IS each Bitcoin Miner’s computer actually doing, and for who?).”
Extensive mathematical calculations, looking for very large numbers that meet certain criteria.
It’s not all that hard to understand, actually, and extremely large prime numbers can be useful a good many things, so I’m not against the work being done, really.
Just the claim that it’s a “currency” is the ridiculous part. I think people put up with because of the extreme desire to have some kind of currency that doesn’t depend on the government (since they have proven themselves not up the task of being… not “trustworthy”, they clearly failed that, but even *reasonable* with it).
I’m assuming “selling Bitcoin” is differentiated from “exchanging Bitcoin”?
IOW, are they differentiating “selling Bitcoin to be rid of it” from “exchanging Bitcoin as a currency of value”?
In either case, you end up with less Bitcoin, but only one indicates a loss-of-faith in the currency.
Looking at U.S. dollars, I imagine more dollars change hands every day — several times more — than are printed every day. But that’s how an active economy works, by spending money. You give your dollars to someone in exchange for a good or service, and then they give their dollars (part of which used to be yours) in exchange, and so on. It doesn’t indicate a loss of faith in the U.S. dollar — rather, spending dollars indicates confidence in a healthy economy — and the same single dollar often is earned and spent many times as it changes hands. (Digital/electronic funds do the same, just faster and more conveniently.)
So my question is, how much of this “selling Bitcoin” is to be rid of the currency, versus the currency simply changing hands, some multiple times?
Selling MORE of something doesn’t really exist…and more than can be “magicked” into existence? Sounds like another fraudulent scheme designed to steal from the gullible…But then that also describes the US Dollar.