The position of bitcoin as SOV has grown with massive adoption and confidence from holders. We keep seeing large acquisition from more wealthy names and individuals. We expect as the marketcap crosses trillion we should see other coins join in that size of figure in the year. This size of fund attracts countries and capitalists around the world to take position like their counterparts before they miss out.
I get caught up in the spin stories a bit myself
One thing that is pushing the price up is energy costs
The economic feedback loop from power generation and
usage is probably the biggest price pushing point
rather than adoption, I’ve not dwelled on it much tho
the power consumption running costs seem much higher
than the coin block reward.
Just holding a token dosnt make it increase in value.
Now if the energy economic feedback loop is combined with asset management
transfers in an energy blockchain hash strategy integration fashion
it cud be manageable and also prevent the risks associated with
exchange coin flooding the market, atm I think KYC laws have slowed
to some extent the liquidation of coin once everyone attains these
blcoks it will no longer be a workable strategy