$BTC fell 22% in Q1. Over the same window, ARK Invest’s data shows “conviction buyers” went from holding ~2.13M BTC to ~3.60M BTC. That is ~1.47M BTC absorbed. A 69% jump. The real divide: People who understand Bitcoin vs. people who don’t. Weak hands see a crash. Conviction buyers see adoption compounding against fixed supply. Bitcoin is not just being repriced. It is being redistributed to those who understand it.
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