CNBC: Bitcoin, Scarcer than Gold – A Historic First

By | December 5, 2023
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Bitcoin has been declared the first asset in history that is scarcer than gold by CNBC live. This news comes as the cryptocurrency continues to gain popularity and recognition as a valuable investment.

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Bitcoin, the world’s first and most well-known cryptocurrency, has always been surrounded by a sense of mystery and fascination. Its decentralized nature and limited supply have made it a highly sought-after asset for investors and enthusiasts alike. However, a recent statement by CNBC has taken the excitement surrounding Bitcoin to new heights, claiming that it is now scarcer than gold.

The announcement came during a live CNBC broadcast, where the anchor revealed that Bitcoin has become the first asset in history to surpass gold in terms of scarcity. This news sent shockwaves throughout the financial world and sparked a renewed interest in the digital currency.

To understand the significance of this claim, it is essential to dive into the concept of scarcity. In economics, scarcity refers to the limited availability of a particular resource or asset. The scarcer an item is, the higher its value tends to be. Gold has long been considered one of the scarcest and most valuable assets in the world. Its limited supply and high demand have made it a reliable store of value for centuries.

Bitcoin, on the other hand, operates on a completely different system. It is a digital currency that exists solely in the virtual realm. Unlike traditional currencies, which can be printed and controlled by central banks, Bitcoin has a fixed supply. There will only ever be 21 million Bitcoin in existence. This scarcity has been one of the driving factors behind its meteoric rise in value over the years.

CNBC’s assertion that Bitcoin is now scarcer than gold is based on the fact that gold production continues to increase, while Bitcoin production is set to reach its limit. Miners can still extract gold from the earth, albeit at a decreasing rate, while the production of new Bitcoin is halved every four years through a process known as the “Bitcoin halving.” This halving mechanism ensures that the supply of Bitcoin becomes scarcer over time.

The comparison between Bitcoin and gold has ignited a debate among investors and analysts. Some argue that gold’s long-standing history as a store of value and its widespread acceptance make it a more reliable investment option. Others believe that Bitcoin’s digital nature and decentralized system make it the asset of the future.

Regardless of one’s opinion, it is undeniable that Bitcoin’s scarcity has played a significant role in its value appreciation. As the demand for Bitcoin continues to rise, its limited supply will only further drive its price upwards. This scarcity has also led to a growing interest from institutional investors, who see Bitcoin as a hedge against inflation and a potential store of value.

However, it is important to approach the topic with caution. The volatility of the cryptocurrency market cannot be ignored, and investors should always do their due diligence before entering the space. While Bitcoin may be scarcer than gold, it is still a highly speculative asset that carries inherent risks.

In conclusion, CNBC’s claim that Bitcoin is scarcer than gold has caused a stir in the financial world. The limited supply of Bitcoin and its increasing demand have made it a highly sought-after asset. Whether or not Bitcoin will surpass gold as the ultimate store of value remains to be seen, but its scarcity is undoubtedly a driving force behind its value appreciation. As the cryptocurrency market continues to evolve, it is crucial for investors to stay informed and make educated decisions based on their individual risk tolerance..

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@WhaleChart said JUST IN: CNBC live said Bitcoin is the first asset in history that is scarcer than gold.