I think as we move forward into an era where capital increasingly loses the freedom to choose its home and controls are ratcheted up, Bitcoin has an opportunity to shine as a borderless asset with native transactional rails and codified protection from dilution. However right now, the marginal new investor is not positioning themselves to utilize this power because they're invested via proxy instruments. I would not anticipate a reversal of that ownership trend without extreme conditions applying pressure on investors to reconsider what they find important.(𝐓𝐗𝐌𝐂)