Most of the smartest people I personally know in crypto have reduced their BTC position
Another reason: Elon has sold 75% of his Tesla BTC. I know he gave some bs reason about china and needing liquidity etc, but I don't believe that of course.
Yet another reason: Kyle Samani recently said in an interview that "Bitcoin is nonsense"
Final reason: Their community as an average is pretty low quality tbh.
I mean, it is possible that they will still do well, but there are much better alternatives at this point and the brightest minds in crypto are reducing their BTC position substantially.
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From @dimodu