Post
Topic
Board Bitcoin Discussion
Re: If only they knew
by
Faisal2202
on 22/11/2024, 20:57:52 UTC
Honestly, we have mined over 19 million bitcoins and there are not many bitcoins left to mine. Not to mention if you look at the outflows from ETFs, they are buying many times more bitcoin than the miners are mining every week. So I'm not bullish on the halving anymore and I think the bigger catalyst in this bull run is ETFs, governments and economic impacts rather than the halving.

As you can see week: 44 ETF bought over 20kBTC while bitcoin only mined 3kBTC.
I did not know the exact number of BTC bought by these ETFs and how much BTC was mined, these stats are really bullish, and the high adoption and decrease in the supply will surely take the price of 1 BTC to new heights, as I hear in one of the news that the author of Poor Dad and Rich Dad said BTC can touch millions per coin.

Although imagining that is just crazy for me, I don't have that much BTC, but from 100k, if it jumps to 1 Mil, which seems to be not far from the current adoption rate, I think we can make 10x, and that will surely take a lot of time while we can make 10x from any alt (the right one has to be chosen) in this alt season.

Thanks for these stats, these were helpful and refreshing.