Have no fear. We're not going to be running out of BTC any time soon. lol There are 900/day, 6300/week, 27,000/mo newly mined Bitcoin being created. That's every day, every week, every month for the next 3 years. At these prices, that's $315M of new money that needs to flow into the market EVERY WEEK to eat up the supply. Obviously, that number doubles when the price hits $100k. So, while there is a lot of money flowing into the market and coins are being taken off exchanges, there still is a goodly supply coming available. Next time the price spikes I'm sure the miners will sell a bunch off again and the market will be flooded with plenty of BTC to buy if you want. In the meantime, I think the fact we're maintaining these prices and floating upwards slowly is a VERY bullish sign. The longer we trade in this range, the less likely the price will break below it next time there's a big selloff..
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Thanks for doing the math.
However $315M a week is nothing if the banks or big players gets involved but it doesn't look like they want to. Mainly because it will hurt their control over the system if they start focusing on BTC.
It doesn't rule out Apple and Amazon from investing and taking it out. It's kind of chump change compared to their trillion dollar valuations where they sell some stock every week.
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No question. There's obviously a lot of money out there buying Bitcoin just to maintain its price, let alone move it up. And, realistically, most of those "new" coins are probably being hodled by the miners for now so they're not affecting price. I'm just saying that there is still plenty available for people who want to buy. I know he was kidding but...I just thought it was a good place to throw in the metrics.
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I would disagree. Look at it from the token perspective, not in USD.
There are what, 14 million BTC available when we factor in those that were lost (estimated to be about 4 million). Yes there are 900 more a day coming to market yet that is not going to go very far.
Microstrategy alone as close to 100K Bitcoins. Those are basically locked away for a long time. The same is true for most of these institutions. They will simultaneously use it to ride the long term appreciation as well as strengthening their balance sheets.
I see BTC as being in a liquidity crisis. The demand is far exceeding the supply, regardless of what the price is.
Even a 10x in the price of BTC, using your number, is $3.15 billion per week. That is basically two Tesla orders, not much for Wall Street and corporate America.
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this says it all
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