mej prospectus , page-60

OK farmboy i give you that one , 11.8m bitcoins were available prior to early nov 2013 when the price was under $250US.

But those who bought the 800K additional bitcoins mined since middle Nov 2013 are under water unless they spent them. Holding is not a good strategy and thats why the price is coming down , profit takers on those 11.8m bitcoins still in the money. I see the price going under $250US

https://blockchain.info/charts/total-bitcoins