The new supply of bitcoin will fall from 900 mined per day to 450 mined per day. The floor of what miners can sell their bitcoin for to cover their fiat expenses will be raised dramatically, since they'll be earning half the amount to sell.
Based on today's price and rate of issuance, there's ~$900 million a month flowing into bitcoin to maintain these prices. Even if that demand doesn't increase (highly unlikely, imo, given the banking crisis and money printing that's coming), the same demand would be coming for half the new supply.
💥
hodl_₿itcoin / Executive Order 6102
npub1hz…7q96z
2023-05-04 17:09:49
in reply to nevent1q…pzs6
Author Public Key
npub1hzelyp0qq26g96hazpg86envv8pkr9st5rkgf8ypl5qungyeekfqh7q96zPublished at
2023-05-04 17:09:49Event JSON
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"pubkey": "b8b3f205e002b482eafd10507d666c61c361960ba0ec849c81fd01c9a099cd92",
"created_at": 1683220189,
"kind": 1,
"tags": [
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"content": "The new supply of bitcoin will fall from 900 mined per day to 450 mined per day. The floor of what miners can sell their bitcoin for to cover their fiat expenses will be raised dramatically, since they'll be earning half the amount to sell.\n\nBased on today's price and rate of issuance, there's ~$900 million a month flowing into bitcoin to maintain these prices. Even if that demand doesn't increase (highly unlikely, imo, given the banking crisis and money printing that's coming), the same demand would be coming for half the new supply.\n\n💥",
"sig": "ebdb5cc4fbbd50362a03ba930fa2c3a25976d819675e7aaba7cfcd6e677bc6cf35b3ff1a2471f6f51376caabfa72710079df9d40178d48ea20226218e028864d"
}