I think that a large part of the priced in "value" of Bitcoin is just lots and lots of Bitcoin that nobody can access anymore.

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abirch a day ago | parent [-]

Bitcoin's supposed to be "liquid" but I'm wondering what happens when there's a forced liquidity event.

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eru a day ago | parent | next [-]

What do you mean by forced liquidity event?

	▲	abirch a day ago \| parent [-]
		If people are trading bitcoin on margin or if Strategy is forced to sell a large percentage of its holdings.

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altmanaltman a day ago | parent | prev [-]

I mean, it's the opposite of that; it's forced illiquidity when people lose access to their keys. There is no way to gain access to those coins and you cannot "force" liquidity on the bitcoin protocol.