Hiking to Buggytop Cave & Sewanee Natural Bridge @ South Cumberland SP Lost Cove Area (Sewanee, TN) While in the Sewanee, TN area I needed to check some final destinations off my South Cumberland State Park list. We had not made it to the Lost Cove Area on other trips. Buggytop Cave was the first destination so we hiked a few miles to get there. It was worth it! Much more impressive than I thought it might be. We hit the Sewanee Natural Bridge quickly before returning to Chattanooga for our final Molly graduation weekend celebration.

Listening to Rogan and Post Malone taking about CBDCs today and they were like “uhh…hell nawh”. Many in the mainstream don’t get #Bitcoin (or own any). But a lot of mainstream people understand where CBDCs are heading. I wonder if that will be a hill the majority die on. Perhaps. I’m not holding my breathe, however. Many of those truly worried about them will eventually discover Bitcoin as their solution. I think it is inevitable. These people won’t be purchasing my coins, however. Sorry…not sorry!

The monster tomato plant is ready for another run. I picked everything that was ready. Still has a ton of tomatoes on it. Still has a ton of blossoms being added. I’ve been eating tomatoes nonstop and many more to go it looks like. It looks like white trash since it has taken over my patio. I’ll take it. I never thought it would do this well.

Molly's Nursing School Graduation We've put 3 kids through college but this is our first college graduation. The first two graduated during COVID so no graduation for them (GRRR!). Preston is a 2nd-grade teacher in Nashville. Emmaline is an Event Coordinator in Orlando. Due to pent-up celebration anxiety, we went hard for Molly's graduation from nursing school at the University of TN in Chattanooga. She graduated with her BSN RN, recently passed her NCLEX, and started her job at St. Thomas Midtown last week. 3 down, 1 to go...Max is on the clock!

Saylor is bullish. Imagine that...but he is currently VERY bullish. I agree with him completely. By the way, he has been directionally correct about pretty much everything I've ever heard him talk about. Clarity in regulations has increased. Bitcoin is different and clarity has increased, while clarity in other crypto has only worsened. More people/institutions are likely going to want to buy Bitcoin. Very few can easily do it. Many individuals don't know how to do it but would do it if they had access via their traditional channels. These are not as good as buying/holding your own on-chain Bitcoin but viable models for many of these people. Institutions have investment mandates that don't allow them to invest in the asset class. They also have to stand-up the infrastructure to custody this type of asset within their walls. This is not an easy thing for them to change (it will take time). Continuing improvements in regulatory clarity and investment access (think spot ETF) will make everything easier for everyone. Even if all these people begin allocating to it there are not many sellers as new money comes in. Exchange balances are as low as they have been since 2017 bull market (2.27mm Bitcoin now, down from 3.1mm at 2020 peak). See chart here:

MacroMicro

Bitcoin Exchange Balance (Total) | MacroMicro

Exchange balance of bitcoin increases when institutional investors are depositing their cryptos

Add to this an upcoming halving within the coming year (block reward goes from 6.25 down to 3.125 per block). Blocks occur about every 10 minutes (so 900 new Bitcoin a day become 450 new Bitcoin a day). This will make Bitcoin's stock to flow ratio 120 (it is currently 56). Gold's stock to flow is 62. The next halving will make Bitcoin more scarce than gold. Another reason Bitcoin is better than gold as a store of value asset. Demand UP + Supply FLAT/DOWN = PRICE will need to rise to unlock supply. I think he is directionally correct here as well. Bullish Bitcoin! [Runs Through Brick Wall.gif] Great interview @nat brunell and @npub15dql...lm5m

Spotify

Michael Saylor: Spot Bitcoin ETFs, The Halving & Bitcoin's Next Bull Run

Coin Stories with Natalie Brunell · Episode

The number of #Bitcoin on exchanges is now lower than at the end of the 2017 bull run. See attached chart. The peeps that HODL coins aren't going to give them back easily. The mining reward is getting cut in half this year with the halving (6.25 down to 3.125). Supply suffocation = INBOUND Tick tock, next block. Why do I say HODL'ers aren't going to give them back easily? Enter the HODL Wave chart (see attached chart). During peaks in price coins change hands (HODL'ers sell) and during bears they don't. Less have changed hands this time than EVER before (more have held their coins longer than ever). Fewer coins leaving existing HODL'ers hands AND fewer coins are being created AND exchanges having fewer coins available to sell to people wanting to buy Bitcoin. If demand cranks up prices are going to have to rise to convince the HODL'ers to part with their coins. I personally know a few HODL'ers and there is NO price that is going to bring their coins back online...NONE. I suspect there are MANY just like the ones I know. Good luck buyers!