Analyst: Bitcoin doesn't need Wall Street, but Wall Street needs Bitcoin

TechFlow news, May 14 — According to Cointelegraph, individual investors have sold 247,000 bitcoins this year, while institutions, funds, ETFs, and governments have collectively accumulated 225,000. In 2024, individuals have sold 525,000 bitcoins to institutions and ETFs, while institutions have cumulatively purchased 831,000. Analyst Sky Wee warned that bitcoin is facing the risk of monopolization by financial elites. As one of Forbes' "30 Under 30 Blockchain Visionaries" in 2025, Wee emphasized that bitcoin does not need Wall Street, but Wall Street needs bitcoin. He believes institutional participation brings liquidity and legitimacy, yet bitcoin’s true power lies in individual self-custody and direct ownership—not through ETFs or centralized platforms.