$BTC BlackRock, the world's largest asset manager, has highlighted a fascinating issue with Bitcoin's supply and demand. According to their analysts, if every millionaire in the US wanted to own just one Bitcoin, there wouldn't be enough to go around.
The reason for this scarcity lies in Bitcoin's limited total supply, which is capped at 21 million tokens. However, it's estimated that 3 to 4 million Bitcoins are lost forever due to forgotten keys or destroyed wallets. This leaves only 17 to 18 million Bitcoins available for institutional and retail investors.
BlackRock's analysts, Brett Wager and Michael Gates, pointed out that Bitcoin's scarcity is a key factor in its value proposition. Unlike gold, Bitcoin's supply cannot be increased to meet demand, which makes it a unique store of value.
This scarcity, combined with increasing demand from institutional investors, could drive up Bitcoin's value in the long term. BlackRock's Model Portfolio Solutions team sees several "substantive arguments" that support Bitcoin's investment merit, including its potential to serve as a global monetary alternative and a hedge against political instability
#BTCNextATH #BBWDocuSeries #BTC
The reason for this scarcity lies in Bitcoin's limited total supply, which is capped at 21 million tokens. However, it's estimated that 3 to 4 million Bitcoins are lost forever due to forgotten keys or destroyed wallets. This leaves only 17 to 18 million Bitcoins available for institutional and retail investors.
BlackRock's analysts, Brett Wager and Michael Gates, pointed out that Bitcoin's scarcity is a key factor in its value proposition. Unlike gold, Bitcoin's supply cannot be increased to meet demand, which makes it a unique store of value.
This scarcity, combined with increasing demand from institutional investors, could drive up Bitcoin's value in the long term. BlackRock's Model Portfolio Solutions team sees several "substantive arguments" that support Bitcoin's investment merit, including its potential to serve as a global monetary alternative and a hedge against political instability
#BTCNextATH #BBWDocuSeries #BTC
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