In a world where millionaires are always on the hunt for the next big investment, BlackRock has thrown down the gauntlet with a stark warning about Bitcoin ownership. They’ve pointed out a glaring issue: Bitcoin is scarce. Like, really scarce. The total supply is capped at 21 million coins, and here’s the kicker—3 to 4 million of those are permanently lost due to forgotten keys. Ouch.
So, while there are around 22 million millionaires in the U.S., the available Bitcoin isn’t even close to satisfying their potential demand. Michael Gates and Brett Wager at BlackRock have made it crystal clear: the limited supply cannot meet the rising interest from millionaires who want a piece of the crypto pie. Furthermore, the real available supply is significantly lower than the max cap due to many Bitcoins being permanently inaccessible. As more institutional investors enter the market, the competition for available coins becomes even more intense.
With Bitcoin’s fixed supply, unlike fiat currencies that can be printed endlessly, this creates a classic supply-demand imbalance. When more people want in on something that’s in short supply, prices shoot up. And yes, that’s exactly what’s happening. New investors? Good luck snagging a full Bitcoin at this rate. The current value of Bitcoin is approximately around $88,960, making it even more difficult for newcomers to acquire a whole coin.
As institutional interest grows, hedge funds and family offices are diving into Bitcoin, adding fuel to the fire. The competition for coins is heating up, and Bitcoin’s price surge is riding high on this wave of investment. It’s becoming mainstream, folks.
But let’s not pretend everything is sunshine and rainbows—regulatory uncertainty looms. Still, BlackRock sees a future where even sovereign wealth funds might jump on the Bitcoin bandwagon.
Millionaires have the cash to throw around, so when they feel that FOMO creeping in, they’re likely to pounce. Bitcoin is becoming a go-to asset for diversification, especially in shaky economic times.
The takeaway? With the way things are going, many millionaires might find themselves unable to own even a whole Bitcoin. Talk about a plot twist!
