Anthony Pompliano, the founder and partner of Morgan Creek Digital Assets recently tweeted regarding the fact that the total supply of Bitcoin is 21 million Bitcoins, and with the increase in adoption of crypto, BTC might hit face shortage. He said,
There will only be 21 million Bitcoin. At some point scarcity takes over.
Recently, Coinbase also hit the milestone of gathering 25 million users on their platform. With these many users on the platform, and the numbers exponentially rising, the word circulating around is that even at present there are so many accounts that the BTC supply of 21 million BTCs isn’t enough. Even if each user thinks of owning one bitcoin each, the supply would face shortage.
Jameson Lopp creator of statoshi.info talking to BlockPublisher shared his views regarding the subject saying that the shortage of Bitcoin is merely a red herring. With each bitcoin subdivisible into millions of satoshi, owning a whole bitcoin by that many people is merely a myth. He stated,
Owning a whole bitcoin is just a red herring because each bitcoin is subdivisible into 100,000,000 satoshis. But the unit bias is a real psychological phenomenon…
Hence the supply of BTC is not only limited to individual bitcoins, and since it is owned by people in its subunits, the supply is probably enough for now. Although the views of Lopp stand true but according to Pompalino, it would face shortage one day.
Another survey says that there are 35.9 million USD millionaires in the world. As the number of BTC is 21 million, if each bitcoin is divided into all the millionaires, every millionaire would get 0.585 BTC each. Although the facts state the shortage of BTC to hit soon, but the possibility that each millionaire in the world would want a BTC is straight up foolish.