Willy Woo Declares Bitcoin the ’Perfect Asset’—Now It Just Needs Liquidity to Match
Bitcoin’s structural supremacy meets its adoption bottleneck.
Willy Woo—crypto’s resident on-chain oracle—just crowned Bitcoin the 'perfect asset.' But there’s a catch: the king of crypto still needs a tidal wave of fresh capital to fulfill its destiny.
The liquidity paradox: Even flawless tech needs a crowded dance floor.
Institutional flows remain the missing puzzle piece. Wall Street’s still nibbling at the edges like a hesitant buffet-goer—meanwhile, Bitcoin’s network fundamentals scream 'all-you-can-eat.'
Here’s the cynical kicker: TradFi will probably wait until the last possible second to FOMO in—just like they did with the internet. Some things never change.
Treasury risks and bubbles
Woo pointed to risks in the growing trend of corporate bitcoin treasuries, noting that the debt structures of these firms are largely opaque.
He warned:
“No one’s really publicly looked deeply into the debt structuring, so I absolutely think the weak ones will blow up, and people can lose a lot of money.”
Woo further questioned what WOULD happen to these treasuries in a bear market:
“What happens to the bear market? Who’s swimming naked and how many coins get slapped back out into the market?”
Risk of centralized exposure
Woo cautioned that institutional investors are favoring spot bitcoin ETFs and large custody platforms over self-custody, which could put significant amounts of bitcoin within reach of governments.
He said this raises the risk of a “nation-state rug-pull.”
Max Kei, CEO of Debifi, said self-custody is expected to spread gradually from institutions like Coinbase to businesses and individuals.
Companies as adoption leaders
Blockstream CEO Adam Back argued that companies remain the most logical starting point for bitcoin adoption.
He stated that firms unable to outperform bitcoin’s expected returns should simply “close up shop and buy bitcoin.”
Back added that firms with solid Core businesses can still thrive by integrating bitcoin, without necessarily being pure bitcoin plays.
