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The asset: scenarios, ETFs & volatility

“A price target is a scenario, not a promise.”

How do you value something with no cash flows? The honest framework: total addressable markets × capture rates. Gold's monetary premium (~$15T class), global remittances, corporate treasuries, sovereign reserves — assign each a bear/base/bull capture percentage, divide by 21M coins, and you get scenario prices, not prophecy.

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Education only — not financial, investment, legal, or tax advice. Never share your seed phrase with anyone.