Excellent points about the Velocity of Bitcoin. I think this will come in time as:

1. More businesses, sovereigns and funds hold it on their balance sheets. Periodic re-balancing ensures movement.

2. The lack of friction plus self-settlement layer incentivizes merchants to offer discounted payments in BTC (like a cash discount, but better). This accelerates Medium of Exchange.

3. Financial use-cases of BTC as pristine collateral grow in popularity and usage.

Keep up the great dispatches!