Jack Mallers, the founder of Strike and CEO of Bitcoin-based treasury firm Twenty One Capital, has explained why Bitcoin will always go up.
Sometimes it’s slower, other times rapid, but Bitcoin has been on an upward trajectory since its launch. The pioneering cryptocurrency once exchanged hands below $1; now, it is a six-digit asset, with potential for more upside.
Bitcoin to Discover Newer Prices: Mallers
Meanwhile, Mallers shared in an appearance at Bloomberg Markets that Bitcoin would continue to increase in value. While many see the apex cryptocurrency as too high, he believes it will continue to become even costlier over the years.
The Twenty One Capital CEO shared this sentiment when asked if there would be a point where entities committed to buying Bitcoin exhaust its scarce supply. For perspective, several firms are now adopting Strategy’s (formerly MicroStrategy) five-year-old Bitcoin HODL strategy, putting severe pressure on the asset’s supply.
Firms like Metapalent, Marathon Digital, GameStop, and Twenty One Capital have incessantly accrued Bitcoin, taking in more of the cryptocurrency than US spot ETFs did in the first half of the year. The trend has raised questions about its sustainability, as there are few bitcoins left compared to the demand.
Mallers shared a unique view on this. He noted that Bitcoin will always be available; the real question is how much you can pay for it. He stated that if one wanted more Bitcoin, they would have to increase their bidding price for holders to release.
“There’s always Bitcoin available; it just depends on what you want to pay for it,” he said.
Bitcoin’s Scarce
Mallers called Bitcoin the scarcest thing, insisting it does not adjust its supply to the insatiable human demand. Notably, there are few bitcoins left to mine, as 95% of the supply is already in existence and the remaining 5% is spread across the next 115 years.
Moreover, creating more Bitcoin remains unattainable at this point. While there are rumors of quantum computer invasions, industry leaders believe that cryptography will also mature to counter their potential.
As a result, Mallers noted Bitcoin will always be available in the market, and participants like ETFs, the capital market, and nation-states like the United States will “find the supply they are looking for.” However, it would be a far higher price.
The Twenty One Capital CEO suggested that these simple supply-demand economics would ensure that Bitcoin continues to break to newer prices indefinitely. Recall he earlier predicted a 200x Bitcoin rally in September.
Interestingly, he does not share this sentiment alone. Tim Draper predicted infinite growth against the dollar, with maximalist Michael Saylor insisting Bitcoin would grow even 10 times larger than gold.
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