You got that backwards buddy.
FTX wasn't eating up real Bitcoin with fake demand, they were eating up real demand with fake Bitcoin. They had almost zero Bitcoin on their books despite having thousands of customers supposedly buying Bitcoin.
Discussion
You’re right buddy, I meant eating demand with fake supply 🙏🏻
Pretty sure the last bull run would've hit 100k without fractional reserve shenanigans from FTX and likely other exchanges as well. We haven't done enough to educate newcomers about taking their coins off of the exchange after they buy them.
Hope everybody still gets the point 💜