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you're def right about the box-checking, and I still think there are more users of SN than there are institutional buyers
maybe not for much longer tho.
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Last time I checked... I was under the impression that ~70% of Bitcoin was privately owned. But then again this was pre-ETF so ha
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I watched that and it's interesting, but I wonder how reliable the information is. It's not like you check a box to identify what kind of entity you are when you receive bitcoin.