What we know is Bitcoin will have a maximum supply of 21 million coins and by the time the last coin is mined very few will be in the hands of retail investors. Diamond hands I hear so often being preached yet the evidence does not point that way and is more like the total opposite. Humans are generally greedy and dumb and at this rate anyone holding 1 Bitcoin will be a rarity in the future. Everyone as a selling price so once we see the numbers rise how many Bitcoin maxis will be left?
Nearly 11K Bitcoin scooped up off the exchanges this week by firms that we already know have Bitcoin in their portfolios. There are roughly 450 Bitcoins mined daily so just between these investment companies this is a buying rate at more than 3 x the daily production.
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The ETF numbers are extra to that figure and Bitcoin close to $100k this is a simple calculation with just in the last 5 days another 26K Bitcoin being scooped and parked off. We heard the news today from the SEC that banks no longer have to divulge their crypto dealings and if this is not seen as bullish I don't know what is.
Another institution this week announced their plans to purchase 42K Bitcoin and they are not alone. It seems everyone is considering this or are already doing it. I saw the news of 3 different gaming companies in Japan all adding Bitcoin to their balance sheets. Not huge amounts, but 20 here and there starts to add up very quickly. When you have a defined amount taking 100 away is a hundred less available and there is a supply shock coming.
Do the maths as this is not hard to see what is coming in the near future. Bitcoin under $100K is still cheap even though many of us are seeing this close to it's ATH. Institutions do not mind paying these prices because they know where the price is heading and cannot afford to miss the train.
Ark Investments have updated their Bitcoin price forecast for 2030 with a price of $2.4 million. This forecast is built primarily on institutional demand and other financial sectors adopting Bitcoin. Work that number out with a $100K Bitcoin price which would double your investment every 3 months until 2030. I do think there is a high probability of this happening and one can only imagine what this is going to do for other crypto currencies.
We are amateurs in our level of where we think prices can go and we are definitely not bullish enough. They always say the early bird gets the worm and we are or were even earlier than the bird so we have to make this time count as opportunities like we have now are once in a life time. Bitcoin is still cheap if you have the funds or invest in alts to eventually get your hands on Bitcoin is another play that could work. Bitcoin is not the be all and end all of crypto however and there are going to be many other crypto rags to riches stories and make sure you are part of one of these.