[graeme]

Amazon had net income of $21 billion on 2020. Were you the sole shareholder you would be entitled to collect that if you chose. Currently amazon reinvests to grow but that doesn’t mean profits aren’t there.

Meanwhile if you owned all of bitcoin and wanted to keep the current hash rate you’d have to pay in about $20 billion a year, maybe more.

From a cashflow perspective, one is certainly better than the other to own, even if you are barred from selling.