Bitcoin is the most scarce asset the world has ever seen. People don’t know it yet, but one day they will be fighting tooth and nail for every scrap and morsel of bitcoin that they can get their hands on.
In fact, one day you will not be able to buy Bitcoin with Fiat Currencies like the US Dollar. One day in the not-so-distant future, if you want bitcoin, you will have to exchange your time and energy and work for it.
We are living in a universal goldilocks zone right now where we are still early enough to the bitcoin game that we can buy it with US Dollars, yet late enough that Bitcoin still has significant real-world value with a 750 Million Dollar Market Capitalization.
Welcome back to Bitcoin Basics, your go-to source for all things bitcoin. In today’s article we are breaking down some of the numbers behind bitcoin’s scarcity, from the largest whales to the tiniest of shrimp, the number of people who own at least one bitcoin will shock you!
You might have asked yourself, “How many people actually own any Bitcoin?” Well, it turns out that of the total 21 million supply cap, approximately 19 million bitcoin have been mined. The race to secure the remaining 2 million bitcoins is on, and it’s getting more competitive than ever. As every last fragment of Bitcoin gets gobbled up, supply shocks will send the price soaring to new heights.
Surprisingly, of that 19 million bitcoin that have been mined, 5 million bitcoin are considered lost forever, which accounts for nearly 25% of the total supply! Whether they’ve been misplaced, forgotten, or locked away in inaccessible wallets, these lost bitcoins contribute to the scarcity of this digital gold. It’s a stark reminder of the importance of securing and safeguarding your bitcoin through Cold Storage and Self Custody.
The biggest players in Bitcoin, are often referred to as “whales” when they have 10 or more Bitcoin. Whales have a significant impact on the market dynamics. They can cause waves with their large transactions, making the high seas of crypto a thrilling place for traders and investors…
