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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Matthew D 11mo ago

If this was the case there would be an arbitrage to identify. I'd be interested to see the data backing this claim. Spot v futures driven price action.

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Tauri 11mo ago

He won’t give you the data because he made it up.