There's 1.8M - 2M #Bitcoin left on exchanges.

My assumption is that BlackRock will acquire 1M BTC for the ETF.

Then, there are 12 other ETFs, plus public companies, that are now incentivized by FASB to adopt fair value accounting.

Bitcoin this cycle will be deemed an "ESG asset." which Financial Times is already reporting. Then, we could get nation-states mining through renewable energy, plus acquiring as a treasury asset.

Couple with low float, 78% of the supply is deemed illiquid.