The Demand For Bitcoin Is On The Rise
With Bitcoin being a disruptive virtual currency, it's very safe to say it supplies is somewhat finite. At the time of drafting this report, there is over 25 billion Bitcoin in existence, some are held for long term profits, while others are traded daily. Amidst all these intricacies, the major key is the fact that this digital currency is rising in value and utility.
That being said, founder of Bitcoin Satoshi Nakamoto, designed this currency in such a way that only 21 million of it will ever be created, which makes it intrinsically contracting.
By now, we all should have noticed the mass adoption of Bitcoin as the total supply is rising, the total supply in the liquid is somewhat decreasing. Too bad some countries place huge restrictions on this coin, reason being, they haven't understood the full potential of this currency as well as its benefits in the long run.
At the time of this writing, about 20% of the total supply of Bitcoin hasn't been spent in the last 5 years, according to this article, what this connotes is that. 20% of the total supply of Bitcoin is currently being held long term purposes, while others might have been lost as a result of forgotten or neglected passphrases.
In conclusion, as more and more users are jumping on this trendy bandwagon, we should engage with a sense of commitment.
Disclaimer:
This is not financial advice, nor a guarantee or promise in regards to any result that may be obtained from using the above content. The information provided here is for informational and entertainment purposes only. It should not be considered as financial and/or investment advice. No person should make any kind of financial decision without first consulting their own financial adviser and/or conducting their own research and due diligence.
Reference:
Bitcoinist