“Another state, okay 😴”

No. You don't understand what's happening.

We are seeing in real time the unfolding of Bitcoin's most powerful – and most ignored – thesis:

THE SUPPRESSED INSTITUTIONAL DEMAND.

Pension funds, endowments, insurance companies, family offices – all have STRICT fiduciary mandates.

They cannot invest in just anything. Only in what is explicitly authorized by law or internal regulations.

And here's the point nobody talks about:

It's not that these institutions DON'T WANT to buy Bitcoin.

It's that legally they CANNOT.

TRILLIONS of dollars are structurally prevented from entering.

✅ US Pension Funds: $35 trillion ✅ Global Insurance Companies: $30+ trillion ✅ University Endowments: $800+ billion ✅ Sovereign Wealth Funds: $12+ trillion

We've seen some start allocating.

But a large part of this group can't simply wake up and buy BTC.

They need:

→ Regulatory change → Board approval → Authorized vehicle → Precedent from other funds

Each law like Indiana's doesn't CREATE demand.

It RELEASES demand that already existed, pent-up.

It's like a dam.

The water is already there. Pressuring. Waiting.

Each piece of legislation opens a floodgate.

And there's more:

Why do you think spot ETFs broke ALL launch records in history?

It wasn't marketing.

It was institutional capital FINALLY having an authorized vehicle. Years of pent-up demand coming in weeks.

And that was just the first gate.

Indiana is next. Arizona passed a similar law. Utah too. Texas is on the way.

The race has begun.

Do you know the irony?

While retail is focused on price and trying to "catch the bottom"...

...pension funds are RUSHING to change their mandates before the next gate opens.

They know that whoever arrives last pays the most.

The move is clear:

Bitcoin doesn't need to convince anyone new.

It only needs regulatory barriers to fall.

One by one.

State by state.

Institution by institution.