Here's why $BTC could reach $250K+ by 2029:

1. The Clarity Act could unlock trillions in institutional capital that's been sitting on the sidelines. Regulatory certainty = money flow.

2. Treasury buybacks + renewed QE = liquidity injection. When central banks print, risk assets historically pump hardest.

3. Nation-state accumulation is accelerating. More countries will follow with strategic reserves and their own regulatory frameworks — sovereign FOMO is real.

4. Tokenization of traditional finance is coming. Moving $100+ trillion in stocks and bonds on-chain creates massive infrastructure demand and legitimacy for crypto rails.

5. Capital rotation is inevitable. As traditional markets mature or stagnate, smart money seeks asymmetric upside. Crypto — especially $BTC — remains the highest-conviction bet for the next cycle.

6. Global liquidity is expanding, but $BTC hasn't caught up yet. Historically, Bitcoin lags macro liquidity by 6-12 months before explosive moves.

This setup could be the biggest bull run we've ever seen. All the structural pieces are aligning.