Wall Street ‘Suitcoiners’: Concerns Emerge for Bitcoin’s Future

Wall Street financial professionals are using a new term, ‘Suitcoiners,’ to refer to buyers of ETFs, government investments, and institutions. This term is derived from the phrase ‘Real Suits,’ implying these investors play a significant role in shaping market movements. Concerns have arisen that if these Suitcoiners collude, their influence could pose a threat to Bitcoin’s stability in the long run. However, Eric Balchunas, Bloomberg’s senior ETF analyst, downplays this risk, suggesting it mirrors concerns over stock voting and is unlikely to occur.