Notes leaving Consensus here in Toronto: More bullish than expected: Strategy copy cats More crypto related companies than expected will go public this year. More onboarding. More access to capital. Coinbase added to S&P 500 juices previous two statements. Banks and Wall Street will jam this so far into the tradfi system, combined with aforementioned securities being in pensions and 401ks, that it is basically codified into law by consensus and risk of future administrations fighting crypto is off the table. 1.5 states have now created an SBR increasing probability that more will follow. All this forces hand USA or other counties will buy bitcoin. Game theory. All of above makes Bitcoin an asset class not an investment. Asset classes by definition are much larger than investments. Other: it’s becoming increasingly clear that Bitcoin mining is essential(!!!) to maximizing existing energy grids needed to bridge us from now to capex update. Certain AI models also need variable load energy sources requiring bitcoin energy integration.