Economist Questions Bitcoin's Scarcity Amid Supply Redefinition

According to PANews, economist Peter Schiff recently shared his thoughts on the X platform, questioning the perceived scarcity of Bitcoin. Schiff posed a hypothetical scenario where Bitcoin's supply is increased to 21 billion units instead of the current 21 million. He suggested redefining each Bitcoin unit as 100,000 satoshis, rather than the existing 100 million, while maintaining the satoshi supply unchanged. Schiff questioned whether this change would affect the perception of Bitcoin's scarcity, emphasizing that the unit of '100 million' is an arbitrary designation and that the true determinant of scarcity is the supply of satoshis.