- Willy Woo is a prominent cryptocurrency analyst and investor, particularly known for his expertise in Bitcoin and on-chain analysis.
- In 2025, Woo made headlines by selling most of his Bitcoin holdings to invest in Bitcoin infrastructure startups, believing they offer higher returns.
- Woo is recognized as a pioneer of on-chain analysis, and has developed metrics like the Network Value to Transactions (NVT) ratio.
Bitcoin analyst Willy Woo hailed Bitcoin as the “perfect asset” for the next millennium at the Baltic Honeybadger 2025 conference, in RIGA, Latvia.
He said however that BTC may not overtake the US dollar and gold unless its capital inflow grows significantly.
Woo outlined Bitcoin’s transformative potential while highlighting critical risks that could derail its ascent as a global reserve asset.
Willy Woo Highlights Bitcoin’s Market Position and Growth Challenges
Bitcoin’s market capitalization is currently at $2.42 trillion, less than 11% of gold’s $23 trillion and US dollar’s $21.9 trillion.
There is a considerable gap between Bitcoin’s current scale and its long-term ambitions.
Willy Woo emphasized that substantial investment is necessary for Bitcoin to cement its role as a global monetary standard.
“Bitcoin has the potential to redefine money for the next 1,000 years, but it needs a massive influx of capital to compete with traditional assets,” Woo said.
Willy Woo Identifies Risks of Bitcoin Treasury Firms
Woo identified two primary obstacles to Bitcoin’s rise.
The first is the growing influence of Bitcoin treasury firms, which are driving adoption but often rely on debt structures.
Woo warned such firms risk creating a “Bitcoin treasury bubble” that could burst if mismanaged.
“If these firms collapse during a market correction or bear market, we could see a flood of coins hitting the market, amplifying volatility,” he said.
Woo further added that altcoin treasuries adopting similar strategies could worsen the situation and destabilize the general cryptocurrency market.
Bitcoin’s increasing concentration in spot exchange-traded funds (ETFs) and pension funds, rather than self-custodied wallets, is the second issue Woo highlighted.
He argued that this trend will expose BTC to state interference and defeat decentralization.
“Investors, especially those with significant capital, are leaning toward institutional solutions like Coinbase Custody or Bitcoin treasury companies,” Woo said.
“This creates a vulnerability, a potential government-led rug-pull that could undermine Bitcoin’s decentralized ethos.” He stressed.
Despite these risks, Woo acknowledged that Bitcoin treasury firms and institutional on-ramps are accelerating capital inflow, paving the way for broader adoption.
“These entities are bringing in the kind of money Bitcoin needs to grow,” he said.
Fellow panelist Max Kei, CEO of Debifi, offered a more optimistic perspective, suggesting that self-custody will gradually spread from institutions to businesses and individuals.
“As education and infrastructure improve, we’ll see decentralization take root across the ecosystem,” Kei predicted.
Willy Woo Predicts a Transformative Yet Challenging Path Ahead
Woo’s remarks, delivered alongside insights from panelists including Adam Back, Danny Knowles, Leon Wankum, and Max Kei, painted a nuanced picture of Bitcoin’s future.
While its potential to reshape global finance is undeniable, Woo emphasized that scaling adoption requires navigating a complex landscape of financial, regulatory, and structural challenges.
“Bitcoin is a revolution, but revolutions aren’t without risks,” Woo concluded.