š„ An Interesting Calculation About Bitcoin
BlackRock CEO Larry Fink suggests that even a simple scenario illustrates the scarcity of Bitcoin.
In the US, there are approximately 24 million millionaires (those with assets exceeding $1 million).
Meanwhile, the maximum supply of Bitcoin is only 21 million BTC.
š If every millionaire in the US wanted to buy 1 BTC, there still wouldn't be enough for everyone.
The reality is even harsher:
ā¢ A portion of BTC is permanently lost
ā¢ Many BTC are held long-term
ā¢ Large funds and institutions are continuously accumulating
This means that the actual amount of Bitcoin available for purchase on the market is much less.
The interesting question is:
When large amounts of money truly experience FOMO (fear of missing out), where will the price of Bitcoin be? š