It's trying to figure that out itself right now

They want to genocide us retards

Smart Money are the ones creating narratives for the dumb masses

If smart money existed, they wouldn't use fiat.

I've asked myself this question so many times.

I guess it comes down to the information asymmetry & the effort required to understand Bitcoin's design.

The only other alternative is that we're wrong. I don't think we're wrong - I've spent years trying to find where we're wrong.

smart money is just code for cantillionaires

smart money is just code for : "Someone got it right, but not me, I'm just reporting the news. Was it the same person as last time ? Maybe. idk. Let's just call it smart money cause I don't know shit."

There is no "smart money" there are just winners and losers. Winners bet on EV positive games and losers are taken out for a ride. That's all there is to it.

Serious answer though:

1) Size. Can’t get large amounts of capital in until there is sufficient liquidity.

2) “Smart” money is mainly smart in the tactical sense. Slick operators of the status quo. Not visionaries that look ten years out. Different kind of smart.