I am glad you like the chart. It's fun to watch imo but I am a bit of a nerd for this stuff XD.

For sure on the third party risk. On that note, spot bitcoin ETFs were probably a bad idea long-term but they are a lot cheaper to maintain than BITO (the BITO ETF uses futures contracts so it is actively managed).

I have no idea what is going to happen with bitcoin treasury companies. I would guess a lot of them will be taken private so they have more flexibility when it comes to buying and selling Bitcoin.