Bitcoin’s Scarcity Challenge: Implications Amidst Growing Interest

Bitcoin, with its fixed supply of 21 million units, faces a potential scarcity issue, especially if more of the world’s 60 million dollar millionaires seek greater involvement. It’s estimated that a substantial portion of Bitcoin is irretrievably lost, intensifying this scarcity.

An investigation by Henley & Partners last September indicated the potential presence of 40,500 individuals whose wealth surpasses a million dollars, held in Bitcoin.

“We’ve observed a surge in interest from crypto millionaires in the past half-year. They’re all seeking to establish a solid ‘Plan B’ to safeguard against potential bans on crypto trading or usage in their countries. Additionally, they aim to mitigate risks linked to taxing digital assets directly,” explained CEO Dr. Juerg Steffen to WealthBriefing, a private banking news service.

Henley’s report indicated only six Bitcoin billionaires as of September.

Simultaneously, Glassnode data reveals that the count of “wholecoiners” (unique addresses owning at least 1 BTC) has crossed the 1 million mark for the first time.


Disclaimer: Not Investment Advice

it’s crucial to understand that the information provided here is not to be construed as investment advice. The crypto market is dynamic and highly speculative, and decisions should be made based on thorough personal research and consideration of individual risk tolerance. Always consult with financial professionals and conduct your own due diligence before making any investment decisions. The intention of this exploration is to present insights and trends, not to provide specific investment recommendations.

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