It’s hard for me to understand how there are still bitcoins left.

There will only be 21 Million, 19 Million have already been mined.

A good chunk of that is lost forever, computers thrown out, wallets that can’t be located, lost seed phrases. People who have died and nobody knew about their holdings. Maybe 20% as a conservative guess. So maybe bringing it down to ~15-16 million will actually be in circulation.

Then you have maybe the top 50 wallets that hold a few million total. Satoshi himself has ~ 1 million that has not moved in years. So maybe that brings it down to ~10-12 million.

Then you have the ETFs, Micro-strategy, etc. that have huge holdings.

There are roughly 22 million* millionaires in the US alone, 56 million worldwide. With in theory, disposable income, I would think they would want to own 1, or even .5 of one.

I mean really, how has there not been a supply shock?