Bitcoin (BTC) just crossed a major milestone, with the 19 millionth coin mined worldwide. That represents a huge advancement for Bitcoin trading. I’ll tell you why.
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Investing legend and Bitcoin evangelist, Don Yocham, is laying out the full story behind a massive shakeup about to rock the crypto world.
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When it comes to cryptocurrency, there are two major categories: limited supply and unlimited supply.
Cryptocurrencies with unlimited supply, as the name suggests, have no limit on how much of the coin can be in circulation.
Dogecoin, for example, could have 100 billion coins or 10 trillion or 49 gajillion…
Obviously, I’m being a bit tongue-in-cheek, but in theory, you could always produce more Dogecoin, which can be good or bad, depending on who you ask.
The alternative to unlimited supply is, obviously, limited supply.
Bitcoin is one example of a limited supply cryptocurrency. There will only ever be 21 million BTC in circulation. And while that may sound like a lot, it really isn’t. I mean just imagine how many dollar bills, or even $20s, are in circulation.
Now that we’ve crossed the 19 million threshold, that means there are only two million left to mine and circulate.
Again, that seems like a ton, but it’ll evaporate quickly.
Then, the basic idea of supply and demand takes over.
As long as Bitcoin demand doesn’t evaporate, which I hardly expect, the limited supply should play in the favor of BTC’s value.
Price should continue to increase, especially as the “FOMO” for folks who fear the limited supply starts to kick in.
As the Age of Adoption continues, and we see demand continue to increase, it could be a formula to send BTC skyrocketing.
My personal target is still $100k. But there’s no saying how long that could take.
Of course, I don’t guarantee that ha[pens. But it’s what I expect. And in the case of Bitcoin, the narrative is clearly there.
Jeffry Turnmire and InvestPub do not provide investment advice. Trading involves a substantial risk of loss and is not suitable for all investors. Many traders fail and you should not trade with money you cannot afford to lose. If you need personal financial advice, consult a financial advisor.
Daily Profit Publishing and Jeffry Turnmire do not provide investment advice. Trading involves a substantial risk of loss and is not suitable for all investors. Many traders fail and you should not trade with money you cannot afford to lose. If you need personal financial advice, consult a financial advisor.
We are not licensed to provide you personalized investment advice. Nothing in these communications should be construed as personal investment or financial advice.
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