The very first line is flawed as mining companies are increasingly not selling their mined bitcoin. Why would they? They are obviously mining because they are bullish.

In fact, who is selling bitcoin? Only those that don't believe it won't be an upgrade to base-layer money. Those that would call themselves bitcoiners don't want to sell it. I've never heard of a Ponzi where some people just won't sell!

This page is an embarrassing collection of misinformation.