Bitcoin Reaches Six-Figure Milestone as Dan Held Offers 'Hopium' on OKX Live Stream

On November 6, 2025, prominent Bitcoin advocate and investor Dan Held joined OKX's "Top Signal LIVE" stream, titled "Bitcoin Hopium," to share his optimistic outlook on the cryptocurrency's future. Held, known for his long-term bullish stance and extensive experience in the crypto space, including roles at Kraken and Uber, discussed Bitcoin's current market position and evolving cycles. The live session delved into the significance of Bitcoin achieving a six-figure valuation, a milestone many early adopters once considered unfathomable.

Addressing current market sentiment, Held acknowledged that while some investors might feel "angst" regarding price fluctuations, Bitcoin remains in an "incredibly strong macro environment." He suggested that the traditional four-year market cycle might be evolving, leading to "more mild bull runs and more mild winters" due to increased institutional participation. Held emphasized that the lack of "irrational exuberance" or a "blowoff top" in the current cycle indicates that the bull run may not be over.

Held reiterated his steadfast "hodling" philosophy, asserting, "I'll be hodling until my dying days." He also offered a nuanced perspective on corporate Bitcoin treasury strategies like MicroStrategy's, advising individual investors, "if you want to buy Bitcoin, just buy Bitcoin" rather than through levered company stocks. He highlighted the importance of understanding one's investments and the fragility introduced by debt.

The discussion also touched upon the burgeoning Bitcoin DeFi ecosystem, including Ordinals and BRC-20 tokens. Held expressed a bullish view on Ordinals, stating, "NFTs on Bitcoin will be bigger than NFTs on Ethereum," attributing this to their on-chain existence and the "proof-of-work oriented NFT marketplace." He noted that his fund, Asymmetric, actively invests in Bitcoin DeFi projects, including Layer 2 solutions and meta-protocols.

Concluding the "Hopium" session, Held underscored his unwavering long-term conviction in Bitcoin's success. He shared personal reflections on wealth and consumption, advocating for enjoying life while still maintaining a disciplined investment approach. His "hill to die on" regarding Bitcoin's utility was clear: "Hodling Bitcoin is using Bitcoin," a statement challenging the notion that active spending is the sole measure of its use.