Thread by @Crypto_Mags

In this #Bitcoin bull run, don't underestimate the added impact on available BTC supply from:
1. #BitcoinMiners ⛏️ aggressively HODLing
2. BTC getting locked up on the #LightningNetwork ⚡️
🧵👇🏽

NA miners are leveraging capital markets (debt & equity) for equipment upgrades & expansion

Miners have never had so many options (both debt & equity) vs prior halving epochs, alleviating the need to sell #Bitcoin

Building a BTC treasury is a winning capital markets strategy
2/

China's mining ban has been a boon to North American miners. Bolstered by the resulting difficulty drop, NA miners have been accumulating record levels of BTC

BUT newly mined Bitcoin are increasingly HODLed by public miners vs sold on markets, contributing to supply squeezes
3/

The #Bitcoin #LightningNetwork is growing at an accelerating pace

>3,000 BTC is currently locked up on ⚡️. Its gone up by 1,000 BTC since this July alone!
4/

The creation of #LightningNetwork channels b/w participants locks up #Bitcoin in a multisig address

This Bitcoin will be used to route payments on the second layer & is unavailable onchain (layer one) until the ⚡️ channel's closed

The # of⚡️ channels is also growing 👇🏽
5/

Between 🇸🇻 adopting #Bitcoin as legal tender (& other countries considering the same), on top of growth in the use of⚡️ for remittances, tipping, gaming, & commerce, the #LightningNetWork is chipping away at the liquidity available for spot trading
6/

#BitcoinMiners HODLing & #LightningNetwork growth locking up #Bitcoin are only going to make bull runs more interesting! 🍿
/fin