Thread by @LukeMikic21

2 things we've NEVER seen in #Bitcoins 14 year life are happening🚨

What happened EXACTLY 2 yrs ago on June 5th, 2021, is responsible for both...

Let me explain why these 2 metrics prove the nation-state BTC race has begun with my 2ND thread on El Salvador for the day🧵🇸🇻

1/

@nayibbukele announced El Salvador would become the 1st #Bitcoin country on June 5th 2021, EXACTLY 2 yrs ago

I believe this can help to explain these 2 UNPRECEDENTED occurrences we see today, that NO ONE has a good explanation for.

The 1st thing we've NEVER seen before is..

2/

The #Bitcoin hash rate relentlessly making new ATHs in the middle of a bear market.🚀

While this is interesting, it's not nearly as interesting as...

https://twitter.com/coinbeastmedia/status/1658462843102961664?s=20

3/

The 2nd thing we've NEVER seen before:

1 million #Bitcoin have left exchanges since 2020, creating a supply suffocation

Exchange balance:
📈Mar 2020: 3.1M
📉May 2023: 2.1M

For 12 years coins were sent to exchanges UNTIL March 2020, when we crossed the ''monetary chasm.''

4/

Someone is plugging in A LOT of miners and
Someone is also withdrawing A LOT of coins from exchanges...

Before I make yet another outrageous claim, there's something else peculiar happening that relates to the matter at hand

We all know China banned #Bitcoin in 2021...

5/

Why are they still the world's 2nd-largest #Bitcoin miner?🇨🇳

Why are all of China's neighboring countries also overtly, and secretly adopting, buying and mining #Bitcoin?🇭🇰🇧🇹🇮🇩

Is SE Asia responsible for explaining the hash and exchange balances?

https://twitter.com/LukeMikic21/status/1658080655702458369?s=20

6/

Possibly.... but they're not alone.

Many other countries from around the world are either mining, buying, or regulating #Bitcoin in a friendly fashion:

🇮🇷🇻🇪🇷🇺🇰🇿

Did Bukele begin the nation-state #Bitcoin ''hash race'' exactly 2 years ago on June 5th 2021...

7/

I think so, and how poetic is it that El Salvador announced a #Bitcoin mining operation with volcanic energy TODAY?

We LITERALLY have Bitcoiner's orange-pilling nation states and people think other nations aren't watching? @maxkeiser @stacyherbert

https://twitter.com/maxkeiser/status/1665718625628561413?s=20

8/

If countries ARE in fact mining+stacking #BTC what happens if this trend continues and there are 0 BTC on exchanges in 2028?

Is this a sign BTC will be adopted in an exponential wave?

I feel like I've once again raised more Qs than I've answered...

9/

https://twitter.com/LukeMikic21/status/1637801989764440071?s=20

I'll explore those Qs in more detail below, HOWEVER in the meantime...

If you've enjoyed this thread so far, I'd appreciate it if you:

1. RT the tweet below to share this thread with your audience
2. Follow me @LukeMikic21 for more🧵s

https://twitter.com/LukeMikic21/status/1665832710248493057?s=20

10/

For those who prefer video content and want to learn more about El Salvador and this topic, I explain more in this video I ripped yesterday👇

https://twitter.com/coinbeastmedia/status/1665392949083906050?s=20

For those who prefer to read, I also have you covered....

11/

For those who prefer to read, I wrote an article on this topic yesterday.

You can find it linked here👇
linktr.ee/lukemikic

With all that said, NOBODY is bullish enough about El Salvador and #Bitcoin🇸🇻

12/