Lately, I've been rethinking the relationship between BTC and the Nasdaq 100. I used to keep it simple. Buying BTC meant betting on excessive money printing, inflation, and currency debasement. Buying the Nasdaq 100 meant betting on human technological progress, productivity gains, and the world's top tech companies compounding value. But I realized there might be a deeper, shared root cause for the long-term appreciation of both assets. The continuous expansion of M2. Total nominal money supply in society keeps growing. Sovereign nations print money long-term, credit systems expand endlessly, and there's more money in the system every year. The real question is: where does all this new money ultimately flow? It doesn't distribute evenly across all assets. It flows toward the scarcest, most consensus-driven, most liquid, and largest capital vessels. This is the fundamental commonality between BTC and the Nasdaq 100. BTC captures humanity's demand for hard, scarce, non-sovereign assets as fiat weakens. It's not just an inflation hedge. It's a hard money vessel. With M2 expanding and fiat purchasing power diluted, BTC's fixed supply of 21 million becomes the ultimate constraint. BTC's long-term logic = M2 expansion x BTC consensus expansion x increasing global allocation. As the global asset pool grows and more people allocate even a small fraction to BTC, price doesn't move linearly. It reprices non-linearly. The Nasdaq 100 captures something different: technological progress, productivity gains, and profit concentration into leading firms. It's not just buying tech. It's a productivity vessel. Every human tech upgrade eventually gets monetized by a handful of dominant companies into revenue, profit, cash flow, and shareholder returns. The Nasdaq 100 tracks and refreshes these 100 leaders. Cloud computing, AI, semiconductors, operating systems, ad networks, enterprise software, digital infrastructure. These are toll booths of the modern economy. ...