Bitcoin: A Serious (Optimistic) Assessment of the Situation

"Bitcoin ETFs have bought 6,705 BTC per day compared to 900 of fresh supply"

Must read on Bitcoin ecosystem, Commodity cyclicality, and the coming infrastructure problems Bitcoin will reveal

Contents:

1. Optimism’s Advantage

2. Systemic Stability

3. Big Cap Crypto

4. NVDA: Chips Are a Commodity

5. Explosive Demand

6. Stabilize, then build out

7. BTC Production Cost as Reference Point

8. Excess disappears with the April Halving

9. Picks and Shovels

10. Electrical Power C…