The institutions are in and buying in large volumes. So, after years of saying that Crypto is fake money and a big ponzi, they are racing to get in. This was Goldman Sachs' main homepage last week.
From cryptocurrencies to the metaverse, explore the megatrends that are reshaping economies.
www.goldmansachs.com
This is the number of BTC holders:
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And here is the stock to flow model, which has been very accurate until recently:
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Overall, I am very bullish. There are only 2 million Bitcoin left to mine between now and 2040.