Though I do wonder how much Bitcoin investment is happening out there in the productive economy of things / farms / factories (not just in financial or Bitcoin-related services)? Seems the best case is to hodl in those situations which disincentivises capital allocation.
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I think you're right - probably not much, I do wonder how much of this is supply chain related. What would it look like if I could pay for all my inputs and pay my wages in Bitcoin and get all my custom in bitcoin.
I still do think there will be problems with the amount i spend on the inputs being more than the outputs i create while bitcoins value continues to appreciate significantly in the near term