 | Gold supply is not finite…new gold can be mined endlessly. Gold is also much harder to verify and physically redeem. Bitcoin is finite. There will only ever be 21M. If price is suppressed literally everyone around the globe will keep on buying what’s available for sale at these now discounted prices, self custody, squeeze/liquidate the shorters perpetually pushing price upwards as supply continues to shock and as fiat currencies continue to fail. Rehypothecation (paper bitcoin) will liquidate any perpetrators in the long run. TLDR: The absolute scarcity and peer to peer (easily available to all) nature of bitcoin is what’s key to it being unstoppable. Amirite? Why do you think the ETFs will be negative for bitcoin? Edit to add Fidelity’s Bitcoin price forecast (from 2021) and their modified toned-down forecast (from 2022). Why did Fidelity present these graphs to their shareholders? [link] [comments] |
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