When borrowing rates soar, demand is high. But the real danger lies in a supply mismatch—what exists on paper versus reality. When that gap widens, actual supply becomes meaningless.

This is how banking crises unfold. Think 2008. Or the regional bank collapses in 2024. Liquidity evaporates overnight, and “safe” assets suddenly turn toxic.

Now, zoom out. #Bitcoin has no counterparty risk, no liabilities, no hidden mismatches. When the next squeeze hits, will you be holding assets others are desperate to sell?