A recent video from BlackRock has reignited the debate over whether Bitcoin’s
$102,166.25
total supply is truly capped at 21 million.
In the three-minute video released on December 17, BlackRock explained that Bitcoin’s hard cap is controlled by a rule written into its code.
This rule is what ensures that Bitcoin’s supply remains fixed, protecting its purchasing power and avoiding the risks of excessive money printing. However, BlackRock also made a disclaimer, stating that there is no guarantee that this limit will never change.
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The video caught the attention of Michael Saylor, chairman of MicroStrategy and a vocal supporter of Bitcoin, who reposted it on social media platform X. This led to various responses, with critics arguing that Bitcoin is as scarce as many believe.
A reaction came from an X user, @BoldBBaller, who disagreed with the disclaimer and called it misinformation. They stated:
What is this misinformation that supply cap is not guaranteed at 1:32? This is set in stone, every change to it will not be Bitcoin anymore, it will fork into something else.
Joel Valenzuela, a marketing executive at Dash, commented that if the cap were ever raised, people might justify it as something that was always part of Bitcoin’s long-term plan.
Bitcoin’s limited supply has always been one of its biggest selling points, especially for investors who see it as a store of value. If the supply were ever increased, it could change how people perceive its value and scarcity.
Michael Saylor reposting the video from BlackRock is not the only story that makes headlines. Recently, Saylor’s company, MicroStrategy, made its first Bitcoin purchase when the average price exceeded $100,000. How would the purchase affect the firm? Read the full story.
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.
