The thread is broken? As in logic broken? She was talking about it in Dec 2021 when Bitcoin was near ATH. According to her, as providers of "fake Bitcoin" would go bust price would skyrocket because demand for "real Bitcoin" would meet "real supply", which is much lower than "fake supply". And we can all see that this is exactly what had happened - I sure love me some $150k Bitcoin, and sold my stash at am average price of $125k.
But that's not what happened, now, is it?
Willy Woo points out in a reply to her that for every paper Bitcoin sold there's a paper Bitcoin bought. Nobody buys derivatives thinking they bought BTC, people understand very well.
Also another fact - The price of the real thing and the price of the fake thing are tightly related. The basis between the two cannot increase to infinity like it would if fake and real were disconnected. So in the event of disappearance of fake coins, the demand would simply shift to the real thing. Which it hasn't happened.
Nobody knows what the future holds and Bitcoin might be at $300k in a year. At the same time we don't need to declare a wheel square just because it fits our bias.
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