A scenario that I think about quite often...

When the first Gold ETF went live in November 2004, it kicked off a global supply crunch. Gold then went on an 8-year bull run throughout the financial crisis.

Spot $BTC ETFs last year, they are already nearly controlling more supply flows than Bitcoin Miners.

This isn't my base case for Bitcoin, but I'll gladly sign up for an 8-year bull run.

Enjoy the Hopium!