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8% of Bitcoin's circulating supply is now held by ETPs, corporations, and nation states -- a sign of maturing institutional adoption.

El Salvador became the first nation state to adopt bitcoin. I expect other countries to follow El Salvador's lead coming into 2022.

This will be the last of the daily emails to you presenting ARK Investments research paper on bitcoin. My hope is that if you still have reservations about bitcoin, you are, at least, asking yourself why?

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