The key mistake the author makes is to assert no-one will ever spend or sell bitcoin trying to secure greater future wealth. As a bubble grows, large holders fi

The key mistake the author makes is to assert no-one will ever spend or sell bitcoin trying to secure greater future wealth. As a bubble grows, large holders find that that a larger and larger proportion of their wealth is tied up in a single asset and start to diversify that wealth into other assets. I assume this is already the cause for most of the bitcoins being sold on the market.