Zhu Su: The departure of Bitcoin OG is not a negative factor; on the contrary, it strengthens Bitcoin's long-term "monetary attribute."

Zhu Su, co-founder of Three Arrows Capital, wrote that the gradual exit of early Bitcoin holders (OGs) is not as pessimistic as it seems. He pointed out that since Bitcoin's price was still around $1, OGs have been continuously distributing Bitcoin, and each round of redistribution has actually enhanced Bitcoin's long-term health and "monetary nature." Zhu Su stated that if Bitcoin had to rely on a single individual holding it long-term to sustain itself, it would have failed long ago; historically, many early participants successfully cashed out and retired when Bitcoin reached $1,000 in 2013. He also mentioned that Strategy (MSTR) investors are essentially paying for Bitcoin's risk exposure, and Michael Saylor is more like an "embodiment" of this process than the sole beneficiary.