But he has been buying since 2020, and since then the price of BTC has increased approximately five times, which of course is reflected in the amount of BTC he is buying today. Therefore, a logical question arises with your thesis, which is until when will he consider that he is buying at a low price, or does he think that the price of BTC will rise forever?
Difficult to tell, "
Every man has his price" so he will sell at some point if he's rational and only he knows his target price. But still, there's some chance (extremely small IMO) that he did all that buying for emotional stuff, and then the burning, rule the world, and whatever else makes sense.
After all, all companies go after one target - moneyh.
That's obvious and it will stay that way.
Yep, most likely a simple explanation like this is the correct one, Occam's Razor thing.