For a couple of years, August 21 has been a date that appears specially marked on the calendar of the bitcoiner community. It is because today is Bitcoin Infinity Day, a date to highlight and honor one of the unique characteristics of Bitcoin.
Bitcoin Infinity Day is a symbolic event that has been celebrated every August 21 since 2021, at the initiative of the Swedish writer Knut Svanholm. The date was chosen because "8/21" (as written numerically in some Northern Hemisphere countries) can be seen as a representation of the infinity symbol (∞), and the number 21 relates to the maximum supply limit. of Bitcoin, which is 21 million coins.
For Svanholm, the concept behind this day is to encourage people to buy or hold their Bitcoin (HODL) investments on August 21 and avoid selling “for any reason.” Svanholm argued that if enough people follow these “rules,” there could be an increase in the price of Bitcoin. “And if you buy, multiply your usual amount by 21,” he proposed in another tweet in 2021.
The event has also generated Bitcoin-related art, including the design of Bitcoin private key sculptures and other cryptocurrency-related artwork. These pieces of art have become collector's items.
Additionally, others shared online how Bitcoin Infinity Day has inspired the Bitcoin community to come together and increase their investments in satoshis (the smallest unit of bitcoin) in an effort to “stack” 21 million satoshis. Meanwhile, personalities from the Bitcoin community around the world, such as the founder and CEO of MicroStrategy Michael Saylor, celebrate this day on social networks.