Also, when you look out at the pent up demand for cryptocurrencies, you see a lot of money trying to come in that is not really able to do so.
This 100%. I have some investors I am trying to bring into STEEM right now and they can't get their fiat money in. I signed up for a gemini account 3 weeks ago (seems better than coinbase) and they are still "verifying my identity".
This is exactly the reason GBTC trades at such a huge premium over BTC.
Yes. I tried to sign up for a Gemini account a few weeks back and I just so happened to live in one of the 8 states where they are not licensed yet. Lovely :)