I said this almost 2 weeks ago when #Bitcoin    was at $43,000.

ETFs held 657,000 #BTC    IN TOTAL.

Before today's trading, ETFs held 682,000 BTC.

Bitcoin is now trading at ~$50,000

ETFs bought an additional ~25,000 BTC since this tweet.

For a ~4% increase in total holdings (if you include an estimate of today's purchases as well) of BTC, the price rose 17%.

Supply is linear - there's a limit to how much BTC is available.

Price is not.

Price can go up as high as the highest bidder is willing to pay.

If anything, the amount of BTC purchased will DROP over time, and the impact on price will get BIGGER.

What are your thoughts on this?