Sailor calls this the "Arnault Test," named after Bernard Arnault, chairman of LVMH (Louis Vuitton Moët Hennessy). The very thing that even someone as wealthy as he is willing to buy from me is Bitcoin. Bitcoin is something that no matter how much money Arnault spends, he can never increase the supply—and it’s this scarcity that ultimately drives up its value. Even if AIG’s allocation officer showed up, he couldn’t increase the number.
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