Bitcoin critic Peter Schiff has sparked a debate on X by calling the 21 million BTC supply cap arbitrary. He raised questions about Bitcoin’s scarcity amid the recent rally to an ATH of $118K, claiming that its perceived value is based more on public belief than actual scarcity, triggering a wave of responses across the X space.
The post quickly reached over 146,000 views, with users across the platform weighing in. The conversation intensified when Schiff said, “Bitcoin’s scarcity is about perception, not reality.” The discussion brought attention to the psychological effects of supply numbers on public belief.
Many users on X disagreed with Peter Schiff’s take, using analogies and math-based arguments. One user replied, “If BTC had a 21 billion supply but each coin = 100K sats, nothing changes fundamentally.” He added, “Scarcity isn’t about how big the number looks, it’s about the sat count.”