1/6 10% of the outstanding $BTC is held by $MSTR and the 11 Spot BTC ETFs. These are the ways normies hold $BTC in regulated brokerage accounts. Collectively, the avg purchase price is $85.36K, meaning the average is now ~$8k underwater, with an unrealized loss of ~$7B. 🧵 https://t.co/KLdTWPUfBv