I wonder how many people realize that #BTC simply holding $117,000 from one day to the next means that over 52 million new dollars had to come into Bitcoin that day.

3.125 BTC per block x 24 hours x 6 blocks per hour = 450 new bitcoin per day

For Bitcoin to maintain a given price, that price times number of new bitcoin equals the amount of NEW capital that had to come in.

450 Bitcoin x $117,000 per coin = $52,650,000 in new money that day.

I know that’s not a huge number in the grand scheme of things, but it’s not nothing, and it’s a net value too. It helps me make sense of why price goes through long stagnant periods even if lots of money seems to be coming in.

Am I thinking about that right or am I way off base?