Wall Street’s Bitcoin Binge Hits $23B—Now the Math Doesn’t Work
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Institutional FOMO just went nuclear. Bitcoin demand from ETFs and corporate treasuries smashed through $23 billion this week—enough to swallow 80% of all new supply mined annually. Cue the ’digital gold rush’ narratives from crypto bros and bank analysts alike.
The real story? TradFi’s late-stage greed might finally break Bitcoin’s famously rigid economics. With daily buy orders now dwarfing miner output by 5:1, exchanges are bleeding reserves faster than a hedge fund after margin calls. Even the OTC desks are running lean.
Meanwhile, pension funds keep rubber-stamping nine-figure allocations like it’s 2021 SPAC mania all over again. Because nothing says ’prudent investing’ like chasing an asset that swings 30% before lunch.
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