$BTC is the only major asset that doesn't bend to demand.
Gold miners scale up when prices pump. Oil rigs come online when crude rallies. Companies dilute shareholders with new stock.
$BTC? Doesn't care.
You can 10x demand tomorrow and the network still mints the same fixed amount of coins. Supply schedule is set in stone. No negotiation. No bailouts. No pivot.
Every bull run is a fight over the same shrinking supply.
That's why volatility is a feature, not a bug. When demand shifts, price has to do all the heavy lifting. Supply won't meet you halfway.
This is the entire thesis. Programmatic scarcity vs infinite fiat. And it's playing out exactly as designed.
Gold miners scale up when prices pump. Oil rigs come online when crude rallies. Companies dilute shareholders with new stock.
$BTC? Doesn't care.
You can 10x demand tomorrow and the network still mints the same fixed amount of coins. Supply schedule is set in stone. No negotiation. No bailouts. No pivot.
Every bull run is a fight over the same shrinking supply.
That's why volatility is a feature, not a bug. When demand shifts, price has to do all the heavy lifting. Supply won't meet you halfway.
This is the entire thesis. Programmatic scarcity vs infinite fiat. And it's playing out exactly as designed.