Replying to Avatar BoomTown

The ETFs have bought ~2.5x the new issuance of bitcoin since their inception.

MicroStrategy (alone) claims to have bought ALL the new issuance of bitcoin over the last year.

“…But but but ‘profit taking’…” is keeping the supply shock from occurring?

No … Coinbase - enabled by others - is fractional custodying bitcoin. We have huge amounts of paper bitcoin suppressing the price.
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Justin 11mo ago

Now that banks can more easily custody BTC, hopefully some of the ETF and MSTR institutions will move to alternate custodians.

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