Posted 3/1/2024, 10:32:45 AM
Bitcoin Prices Surge as Demand Outpaces Limited Supply
- Supply and demand imbalance driving bitcoin prices higher - more coins being bought daily than created
- Bitcoin ETFs launched in January are buying 3,500-4,300 coins daily, far above 900 being created
- Upcoming "halving" will cut daily supply in half from 900 to 450 coins
- Other factors constraining supply like US government and MicroStrategy holding billions in bitcoin
- Speculative demand from new crypto investors also playing a role amid fear of missing out