TL;DR
We beat you over the top with this equation, loads, but it surely bears repeating – as a result of it is the primary purpose Bitcoin goes up over time: Lowered provide + elevated demand = elevated worth.
We’ve got 19.51M BTC in existence, 14.85M of that are both being held long run, or misplaced endlessly…That leaves us with 4.66M BTC (~$124B price) that can be purchased and commerce.
If the parents at BlackRock have been to get their Bitcoin ETF authorized, and allotted simply 1.25% of their complete belongings underneath administration to the ETF (belongings which complete ~$10 trillion)…There would actually be no extra Bitcoin accessible to buy.
Full Story
We beat you over the top with this equation, loads, but it surely bears repeating – as a result of it is the primary purpose Bitcoin goes up over time:
Lowered provide + elevated demand = elevated worth.
Positive, it is easy. Stupidly easy. However idiocy and genius are sometimes one-and-the-same in crypto (see header picture ☝️).
What we need to discuss as we speak is the primary a part of that equation, the bit about ‘lowered provide.’
As a result of proper now, the next is true:
19.51M BTC are in existence.
14.85M of these are owned by long-term holders (aka of us which have held their BTC for 155 days or extra).
And in accordance with Chainalysis – 5.25M BTC of that 14.85M BTC that are not ‘long-term holds,’ as a lot as they’ve been ‘misplaced endlessly.’
So. We’ve got 19.51M BTC in existence, 14.85M of that are both being held long run, or misplaced endlessly…
That leaves us with 4.66M BTC (~$124B price) that can be purchased and commerce.
That ain’t a lot!
And it means Bitcoin goes to be far more delicate to any will increase in demand than you may suppose.
All we’d like now could be an uptick in demand…which will not be far off. For instance:
If the parents at BlackRock have been to get their Bitcoin ETF authorized, and allotted simply 1.25% of their complete belongings underneath administration to the ETF (belongings which complete ~$10 trillion)…
There would actually be no extra Bitcoin accessible to buy.
And because the principle goes: lowered provide + elevated demand = elevated worth.
Very thrilling!
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