Probably before it happens strictly for a corporate bitcoin treasury it will most likely be the publicly traded miners (who hold treasuries) consolidating.

It's May 2025 right now, I'll set the over/under at Dec. 31, 2029.

Yeah but I'm interested in what kind of premium someone would need to offer to get a bitcoin treasury to sell. Imagine if someone offered 10x book value for mstr and Saylor turned down the deal.