Store of value cannot operate without liquidity. So unless you have that, there is no SoV. This is why, for the foreseeable future, central banks will not hold $BTC. Its liquidity is crap compared to what they need.
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What a great lesson i have learned
Try to buy 5b of BTC without moving that market. GoodLuck
Yeah. And then look at something like Wall Street institutions (let alone central banks) and the volume they are looking at.
We are dealing with $100 billion.
Yeah, impossible. If you buy 100b of BTC next week - you will moon the price 2x at least.
Yeah. I dont think people the depth and liquidity requirements of the trad fin world. Hell repo is $4.5T-$5T DAILY. That is more than 4x the total market cap of crypto. So to think the USD or any of this is going away soon is inane.
I don't think anyone wants to have all fiat go down unless you want the whole world to get drowned in chaos.
At the currency, yes that is true. With the USD, to me, it isnt even a currency anymore. It is a unit of account. That is how big it is.
Yes, 99% of it's exactly that and that is a good thing. Imagine moving Trillions of cash or gold balances around?! Get wracked... no way.