I was not sure either, however it is infront of our eyes, bitcoin will go to global adoption but doesn’t mean value is going high instead it will flatten out. Why? As BTC is growing value cohorts purchasing power or you can say target market will shift to lower levels. It comes to kind of balancing. I did run the first numbers. All argue on exponential growth which is true but we all oversee inverse effect on staking sats.

….Bitcoin adoption contains several S curves, cohorts >100 BTC achieved final stage whereas >1 BTC show growth pattern e.g.

A permanent shift of cohorts to lower level as price is rising

Increasing global adoption will have decreased effect on price