BTC is not long-term bullish, it's long-term inevitable

Of all the technical analysis, on-chain metrics and statistics, these two graphs are - in my opinion - the most important:

Number of people currently holding 0.1-1.0 BTC (2010-2021)

0.1-1.0 BTC is currently equal to ~$4k-$40k. Left-axis = number of holders. Right-axis = BTC price in USD (log scale).

Number of people currently holding 0.1-1.0 BTC (Zoomed: 2020-2021)

https://preview.redd.it/riote9lny3e71.jpg?1800&format=pjpg&auto=webp&s=ea1ef2476afef21d84c2194df89ca2ccc15c350a

The vast majority of people in this group are DCAers - i.e. people like us - buying daily/weekly/monthly.

Now for the incredible part: this data is not price-adjusted.

That's right. The rate is either increasing or near-constant regardless of price. That's a phenomenon known as inelastic demand:

Definition: Inelastic demand is the economic idea that the demand for a product does not change relative to changes in that product's price. In other words, as the price of the good or service increases or decreases, the demand for it will stay the same. This typically occurs in convenience goods that consumers need every day (e.g. food, gasoline).

A 10-year long inelastic demand - for an asset with a 100x move and several 80%+ corrections. That is virtually unheard of outside of core essentials.

What's more, once a person acquires 1.0+ BTC, they're no longer present on this chart - and are replaced by new DCAers*.

^\Sales are not accounted for.)

The comparison to food, gasoline etc. is not perfect - since these are perishables, while most of us hold BTC rather than spending it. Nevertheless, it's still an amazing observation.

Holders of 0.1-1.0 BTC are the fastest-growing cohort:

Relentless DCAers.

Headcount continues to increase undeterred, at a rapid pace. It's estimated that this group will control ~$100b of liquid capital within the next 2y.

What does all of this mean?

(1) Companies cannot afford to ignore BTC/crypto for much longer. The vast majority of their customers are not whales - but people like us.

(2) BTC, IMO, is on course to bridge the chasm:

https://preview.redd.it/vvwnwt4624e71.png?1200&format=png&auto=webp&s=dce7d9247acc2d05fbc99a34b8dfe0ae885a502a

Making it an inevitability that cannot be stopped.

Credit to @ PiPrimePi and @ WClementell for this awesome perspective.