How does Bitcoin react to new capital? A good model might be an AMM, like Uniswap. We can model this out using 7MM coins (Glassnode estimates 7mm liquid or very liquid) and an equivalent 700 Billion in USD. A couple conclusions of the model - 1 Trillion in new money needed to get to 1 Million BTC - the curve is convex, but only partially so - the "multiplier" ranges from 5x to 6x (inline with observed data)
Fred KruegerShare
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