"We'll hit one million this year," ~ #BTC

"I think we will reach one million this year. If not this year, then next year, but it will come very soon."

The demand for Bitcoin significantly exceeds the supply. ETFs alone hold about 3,500-4,000 BTC per day (about 1.4 million BTC per year), while major exchanges hold about 2.2 million Bitcoins. We believes that this will quickly deplete the available Bitcoins that exist in the crypto market.

In addition, the concept of the "Veblen effect", whereby as Bitcoin becomes more valuable, it becomes more desirable due to its perceived value. once the price of Bitcoin reaches the value of gold, which is estimated at 450-500 thousand dollars per coin, it will pass a critical threshold and begin to demonetize gold. That is, the character of traditional money begins to disappear.

“Once the price of Bitcoin crosses this Veblen threshold, it begins to demonetize gold. Because now this thing is considered gold. That's trillions of dollars. Already a trillion, but a market cap of $8-12 trillion cements its position permanently. And then you start buying gold because people see it as equivalent to gold. This is the new gold."

"mega bearish" view on Ethereum ETF approval and impact - The potential approval of the Ethereum ETF by the SEC. We believes that regardless of the outcome, both approval and rejection scenarios will negatively affect Ethereum.

SEC "shot itself" by approving ETH futures alongside BTC futures. This makes it logically necessary to approve a spot ETH ETF for the same reasons as BTC.

the current rise in the price of Ethereum is purely speculative, driven by cryptocurrency traders and Ethereum fans hoping for ETF approval. Not actual capital inflows.

if an Ethereum spot ETF is not approved, speculators will start selling. Whereas if approved then the existing owners will start selling and no one will buy due to the ETF's structural flaw. Because it would not provide a consistent return and incur management fees, which would result in an automatic loss of 5-6 percent per annum for ETF shareholders.