It's not exactly news to frustrated bitcoin (BTC) bulls that risk assets across the planet for months have been recording what seem like daily record highs while the price action in BTC remains rather muted. "What if everyone is looking at this wrong," asks longtime traditional finance asset manager Jordi Visser in a heavily shared (1.5M views on X and counting) weekend essay titled "Bitcoin’s Silent IPO: Why This Consolidation Isn’t What You Think." While bitcoin never had a traditional IPO, the factors ...