Karl T. Ulrich
1 indexed paper
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126
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General Finance×1Crypto×1
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2026
The Satoshi Overhang: Why the Bear Case is Bounded
The paper analyzes the potential market impact of a large, unknown Bitcoin holder (the Satoshi overhang) and concludes that the mechanical downside risk is bounded, suggesting the terminal states are neutral to slightly positive for Bitcoin's effective supply.
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