Polkadot community is in turmoil: buy Bitcoin and dump 500,000 DOT, diversify operations or cut loss at a low point?

Polkadot is arguing over whether to exchange 500,000 DOT for Bitcoin. The $5.8 million, which accounts for about 2.3% of the treasury, would rewrite the asset allocation of the largest DAO in the chain, the Ministry of Finance. (Synopsis: Polkadot founder Gavin Wood confirms that the JAM protocol will not issue new tokens) (Background supplement: Polkadot founder Gavin Wood's first speech in Taiwan "JAM builds Web3 cloud, Ethereum is just an old product of the past) The top ten cryptocurrency Polkadot community is splitting over whether to sell 500,000 DOT to build bitcoin reserves, with proponents emphasizing risk diversification and opponents criticizing selling DOT at low points and buying at high points BTC, the voting results will be announced at the end of June. 500,000 DOTs for tBTC, proposal ignites controversy Blockchain forum user hippiestank proposed on the official forum on June 1 to sell 500,000 DOTs in batches within a year with Rolling DCA to establish strategic reserves in exchange for non-custodial tBTC. According to Bloomberg terminal data, the market value of the site is about $5.8 million. If carried out as planned, the treasury will own bitcoin for the first time, which is indicative of long-term governance. The proponents point out that more than 95% of the treasury holds a single asset DOT and is exposed to on-chain price fluctuations. Since the beginning of 2025, institutional wallet inflows into Bitcoin have increased by 38%, and safe-haven demand has heated up; Sovereign funds in Texas and Singapore have established Bitcoin Strategic Reserves, showing that "digital gold" is moving into the mainstream. In response, Hippiestank emphasized: "This is a risk management strategy, not a bottom-hunting or chasing high. tBTC can remain decentralized and circulate natively within the Polkadot ecosystem." Opponents: Make the worst decision at the worst price point Critics point to the wrong point: DOT brushed a three-year low of $11.6, but Bitcoin broke through an all-time high of $100,000. Senior community members wrote in X: "We use the historical low price to lose DOT and use the historical high price to receive BTC, which is a fundamental double blow." They recommend buying U.S. bonds or stablecoins instead to reduce the risk of single pledges. At the same time, the SEC's delay in the DOT ETF decision has further clouded the market outlook. Voting mechanism and possible paths The referendum has opened and closed at the end of June, with "one coin, one vote". Whether the concentration of coin holders influences the outcome has become a new point of contention. The council discussed three trade-offs: test the waters with 100,000 DOT first, adopt a tiered asset allocation, or lengthen the swap period to reduce the selling shock. The final trend will define whether Polkadot will continue to "All in DOT" or step into "digital gold", and whether the treasury will hold Bitcoin or not, will soon see the truth. Related stories Get TikTok on the chain! Reddit founder joins bidding team: Polkadot to promote decentralization Polkadot founder Gavin Wood: Polkadot Satoshi coefficient is 149, far more decentralized than Ethereum and Solana Polkadot plummeted 50%, founder Gavin Wood decided to switch careers to DJ? 〈Polkadot community divided: buy bitcoin and sell 500,000 DOTs, diversification or cut meat at a low point? This article was first published in BlockTempo's "Dynamic Trend - The Most Influential Blockchain News Media".