You don't have to buy it, it's data, you can see the movement. And the hypothetical of why not just use it as collateral, sure, but they didn't.

👉 And I honestly don't buy the "OGs are selling" narrative. Right. There is commercial miners who have mined Bitcoin for a long time. They have millions of coins and they're the liquidity providers. Sure, a few OG's may have dumped along the way but most people I've known - for years - still have their coins and no plan to sell them any time soon. Particulary not to wall steet.