19.8 million out of 21 million Bitcoins (94%) have already been mined and are owned by someone.
This leaves a remaining 6% for late users to compete for, or to raise the price of Bitcoin enough to convince current owners to sell.
Since the halving event in 2024, the new supply of coins has not exceeded 450 Bitcoins per day (worth 39 million dollars), an amount that a single entity like MicroStrategy can easily absorb alone.
We now also have nation-states, Bitcoin treasury companies (operating in fixed income markets), and ETF trading funds as new and stable sources of demand for the rare Bitcoin.
In my opinion, the likelihood of a super bullish Bitcoin cycle has never been more evident than it is now.
