These are all true but far and away the dominant use case is long term (10+ year) store of value/dollar inflation hedge- which sometimes implies #2, but many en

These are all true but far and away the dominant use case is long term (10+ year) store of value/dollar inflation hedge- which sometimes implies #2, but many entities are happy to hold on exchanges. Total BTC market cap at $2T- would guess from how relatively little transaction activity there is that at least $1.5T is due to this use case.