schwab is rolling out spot BTC and ETH trading to 37 million accounts managing $12 trillion in assets. average client age is 50-65. these people dollar cost averaged through 2008 and 2020. they don't use coinbase. they don't self custody. they click "buy" next to their index funds. BTC is down 46% from ATH right now. this demographic doesn't buy tops. they buy drawdowns on a schedule. if 5% of accounts put 2.5% in, that's $15b in passive flows at current prices. boring money. long duration holders. no lever ...

RT Michael Saylor (@saylor)$MSTR trades at a premium to Bitcoin NAV due to Credit Amplification, an Options Advantage, Passive Flows, and superior Institutional Access that equity and credit instruments provide compared to commodities. https://t.co/AYQlytS4ID ...