A well-known crypto analyst claims that as institutions increasingly adopt Bitcoin, the original holders of Bitcoin are losing confidence in the asset, sparking debates within the Bitcoin community. "Many of the most enthusiastic early whales have seen their faith shaken and are selling at these prices," Scott Melker said in an article on Saturday. Melker stated that there are "many reasons" to sell Bitcoin, "Bitcoin is great, but it has clearly been utilized by those who created it for hedging purposes to some extent," Melker said. Although Melker acknowledged that he does not agree with them, he is simply "pointing out" what he has heard, but these comments have sparked a debate about what the increasing institutional adoption of Bitcoin means for its original spirit. Mike Alfred, founder and managing partner of Alpine Fox, said he "rarely disagrees" with Melker, but this time he disagrees. "People selling some or all of their Bitcoin is a personal decision made based on many reasons unrelated to the asset or protocol," Alfred said. Meanwhile, Bitcoin holder Dave Weisberger stated that widespread adoption would not be possible without institutional interest: "Ironically, without the public distributing Bitcoin held by traditional institutions and OGs to these entities, there is no road to the Bitcoin standard." Bitcoin "is for everyone," analyst Crypto Mags stated, emphasizing that Bitcoin does not discriminate. "Let me remind you, Bitcoin is for everyone. Everyone includes enemies, governments, and Wall Street," Crypto Mags said. Matt Hougan, Chief Investment Officer of Bitwise Invest, stated that while he understands Melker's viewpoint, Bitcoin "is still quite revolutionary." "It is the first global currency supported by logic and community rather than by the state and violence," Hougan said. "Respect the early whales, and let’s keep building. The world needs Bitcoin more than ever," he said. On July 26, an early Bitcoin investor sold 80,000 BTC through Galaxy Digital, which was described by the digital asset company as one of the largest nominal trades in cryptocurrency history. Magazine: Robinhood's tokenized stocks spark a legal storm.