In a post on X shared today, Peter Schiff questioned whether Bitcoin could still feel scarce if its total supply were 21 billion instead of 21 million. He suggested that the number of satoshis (the smallest unit of Bitcoin) would remain the same if each Bitcoin were divided into fewer satoshis, stating: "The supply of Bitcoin actually doesn't matter; what counts is the supply of satoshis." He further claimed that the idea of scarcity in Bitcoin is based on public perception rather than objective reality.
"21 million creates an illusion of scarcity that would be lost if the number were 21 billion," Schiff added.
The post quickly reached over 146,000 views, engaging users across the platform. The conversation intensified when Schiff said: "The scarcity of Bitcoin is a matter of perception, not reality." The debate focused attention on the psychological effects of supply figures on public trust.
Many X users disagreed with Peter Schiff's opinion, using analogies and mathematical arguments. One user responded: "If BTC had a supply of 21 billion, but each coin equals 100 thousand sats, nothing fundamentally changes." They added: "Scarcity is not about how large the number looks, but about the amount of sats."
Another commenter, @agentic_t, stated: "This is like discussing whether cutting a pizza into 8 or 16 slices changes the amount of pizza there is." In response, this metaphor was later reiterated by others, who attempted to point out that its scarcity is defined by its fixed limit, not by the unit of measurement.
@cheznico_ claimed that Schiff's posts might aim to increase engagement, writing: "He has Bitcoin and has quadrupled his number of followers since he became anti-Bitcoin. It's a way to generate interaction, haha!"