- BlackRock emphasizes the limited supply of the pioneer cryptocurrency Bitcoin.
- BlackRock’s bold statement is about BTC’s limited totoal supply.
- It says that if every millionaire in the US wanted 1 BTC, there wouldn’t be enough.
Bitcoin has gained more recognition over the past few years, with this bull cycle seeing especially more BTC interest and adoption. Amidst this burst in BTC popularity, BlackRock emphasizes the limited supply of Bitcoin (BTC) with a bold statement. In detail, the large asset management entity says that if every millionaire in the US asked their financial advisor to get them 1 Bitcoin, there wouldn’t be enough.
BlackRock Emphasizes the Limited Supply of Bitcoin
Before the last bull cycle, BTC accumulation was limited to BTC whales, miners, and traders. This changes immediately last bul cycle upon the El Salvador President, Nayib Bukele, making a visionary move, which was to make BTC a legal tender within the nation. This meant that the country would start to accumulate and hold Bitcoin (BTC) actively, which the did, leading to a steady rally in BTC and crypto prices.
Following Bukele’s lead, a few other countries, like Panama, went on to make a similar move and began to accumulate BTC. El Salvador’s move also inspired Strategy’s Michael Saylor to buy and hold BTC as well. Since then, both entities have been among the top in BTC accumulation and have had an incredibly early start in the rapidly growing BTC accumulation race, one that includes financial institutions.
This brings us to the current crypto bull cycle, where BTC and ETH ETFs were both approved and launched, receiving heightened interest and leading to increased crypto adoption. In fact, so strong has been the responses to crypto ETFs that other altcoins are in line for an ETF approval, which may arrive soon. But this interest also led to financial institutions aggressively accumulating the assets.
BlackRock’s Bold BTC Statement
Even now, El Salvador, Strategy, BlackRock, and other financial institutions are constantly accumulating more and more Bitcoin (BTC), despite its current high 6-digit prices. This goes to show that these entities believe the price of BTC could go on to hit much higher prices, to even that of $1 million per BTC, and thereby increasing demand amidst a dwindling supply. In a bold statement, BlackRock draws attention to this matter.
As we can see from the post above, BlackRock states that, if every millionaire in the U.S. asked their financial advisor to get them 1 Bitcoin, there wouldn’t be enough. The statement only speaks of millionaires within the US, further drawing attention to the very small and limited pool of the total BTC supply, which is 21 million BTC. Indeed, with demand growing and supply decreasing, investors have to get in on BTC quickly before it’s too late.
