Because paper. The poor performance this cycle is central to my expectations and reasoning.
Most of those buyers are just lining up for Coinbase paper, aka mtgox 2.0. Crash is gonna be unbelievable if I'm right.
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Thanks for explaining your rationale.
Hopefully 1 last cleansing of the degens and a 1 way ticket to the promised land for the patient sat stackers.
I doubt it. Human nature to be lazy and look for the most familiar path. Right now that is IBIT and treasury companies, both coinbase custody. Someone else will come along with a new "easy" way that let's them fractional reserve.
I don't support legal interventions but I suspect that custodian reserves regulations are in the future if Master and Blackrock get burned.