Only logical that it takes more to move the market at $2 trillion than $1 trillion, a half trillion, etc. and there are so many adjacent vehicles to pile into now, like MSTR and its ecosystem of alternatives, the other HODLing companies, the 2x levered ETFs, etc. That’s probably why the public miners are in the toilet: They and MSTR used to be the only stock game in town.

I’m not arguing with what you said at all, just observing that there are a lot more options for fiat entry. Agree we need a new class of buyers for Bitcoin.