I hear what you're saying but I still don't buy it. You gotta realize that when and if bitcoin hits $250,000 during this halving cycle, that will mean that $225M worth of newly minted bitcoin will be coming into circulation EVERY DAY. His $92M or whatever won't even eat up one days supply. The market is getting too big for individual actors to manipulate it too much. There's going to still be a lot of volatility for a few years yet but I don't think any one actor can create scarcity. Besides, "scarcity" is just basic supply and demand. It's how any market works. If more people want to buy than there are sellers than the price has to go up until the buyers and sellers equal out.

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