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It's not mutually exclusive with a high Bitcoin adoption rate. You can have people stacking sats and people stacking euros. Just different cohorts of people. In another country people may be spending their euros instead of stacking, and that doesn't grow sat stacks either.
I don't know about Bitcoin adoption in Germany, but they do have a lot of clearnet nodes.
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Yes I know. I am german and I can tell You: the only 2 people I know that have btc are my sister and my best buddy after I orange-pilled them. Through my work I know hundreds of people of the upper middle-class: they hate it.
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