I have the feeling you did not read my comment in full.
I explained why I think for that for this context the monetary base is the right type of money to look at.
For crypto and stock we do the same. People say Bitcoin is capped at 21 million and stocks in circulation is the amount the companies issued. If someone owes someone else a coin or a share, we do not count that towards the supply.
I explained why I think for that for this context the monetary base is the right type of money to look at.
For crypto and stock we do the same. People say Bitcoin is capped at 21 million and stocks in circulation is the amount the companies issued. If someone owes someone else a coin or a share, we do not count that towards the supply.