From the artist's perspective:

Recently, I've suddenly been pondering a question about the main buyers in the last three bull markets of BTC;

2016: Retail investors bought the bull;

2020: Institutions bought the bull;

2024: Will the government buy the bull?

Aside from the government, I really can't think of any other capital that could support the institutions' massive holdings...

After all, only government money is at zero cost!

I believe: Unlimited dollars, unlimited USDT

Only Bitcoin is limited.