A scenario that I think about quite often... When the first Gold ETF went live in November 2004, it kicked off a global supply crunch. Gold then went on an 8-year bull run throughout the financial crisis. Spot $BTC ETFs only launched last year. However, they already control nearly as much of the supply flows as Bitcoin Miners... This isn't my base case for Bitcoin, but I'll gladly sign up for an 8-year bull run. Enjoy the Hopium!