CNBC: Bitcoin Rarer than Gold, Becomes First Asset in History

By | December 5, 2023
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According to CNBC, Bitcoin has become the first asset in history that is more scarce than gold. This statement suggests that the supply of Bitcoin is limited, making it a valuable and sought-after asset.

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Bitcoin: The Scarce Digital Asset

In a groundbreaking announcement, CNBC declared that Bitcoin has become the first asset in history to surpass the scarcity of gold. This revelation has sent shockwaves through the financial world, as Bitcoin continues to solidify its position as a valuable digital asset. With its limited supply and increasing demand, Bitcoin has emerged as a game-changer in the world of finance.

Bitcoin, a decentralized digital currency, was introduced by an anonymous person or group of people known as Satoshi Nakamoto in 2009. It operates on a technology called blockchain, which ensures transparency, security, and immutability of transactions. Unlike traditional currencies, such as the US dollar or the Euro, Bitcoin is not regulated by any central authority, making it immune to government interference or manipulation.

One of the key factors that make Bitcoin unique is its scarcity. There will only ever be 21 million Bitcoins in existence, and as of now, around 18.5 million have been mined. This limited supply, combined with the increasing demand for Bitcoin, has led to its scarcity surpassing that of gold. Gold has long been considered a valuable and scarce asset, but with Bitcoin’s digital nature and fixed supply, it has taken the crown as the scarcest asset in history.

The scarcity of Bitcoin is primarily driven by its mining process. Miners use powerful computers to solve complex mathematical problems, and in return, they are rewarded with newly minted Bitcoins. However, the reward for mining Bitcoin is halved every four years in an event known as the “halving.” This process ensures that the rate at which new Bitcoins are created decreases over time, ultimately leading to a finite supply.

The increasing mainstream acceptance of Bitcoin has also contributed to its scarcity. Major corporations such as Tesla and Square have invested billions of dollars in Bitcoin, and many institutional investors have started including it in their portfolios. This surge in demand, coupled with the limited supply, has led to a significant increase in the price of Bitcoin over the years.

Bitcoin’s scarcity has significant implications for its value and potential future growth. As the supply of Bitcoin becomes scarcer, the demand is expected to rise even further, driving its price higher. This scarcity also creates a sense of urgency among investors, as they fear missing out on the opportunity to own a piece of this limited asset.

However, Bitcoin’s scarcity does come with its fair share of challenges. The limited supply means that even small fluctuations in demand can have a significant impact on its price. This volatility has often been a cause for concern among investors and has led to debates about the stability and reliability of Bitcoin as a store of value.

Despite these challenges, Bitcoin’s scarcity remains one of its most significant strengths. As it continues to gain acceptance and recognition, Bitcoin’s scarcity will only become more apparent and valuable. The declaration by CNBC that Bitcoin is more scarce than gold is a testament to its growing influence and potential to reshape the financial landscape.

In conclusion, Bitcoin’s scarcity has propelled it to new heights, surpassing gold as the scarcest asset in history. With its limited supply and increasing demand, Bitcoin has become a game-changer in the world of finance. As more investors recognize its value, Bitcoin’s scarcity will continue to drive its price and solidify its position as a valuable digital asset..

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@WatcherGuru said JUST IN: CNBC says #Bitcoin is the first asset in history "that is more scarce than gold."