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Bitcoin (BTC) Shortage Triggers New Post from Michael Saylor – TradingView News

Michael Saylor, co-founder and chairman of MicroStrategy, has issued a crucial reminder about the status of Bitcoin BTCUSD as a scarce commodity. On his official X/Twitter account, he noted that the issuance of Bitcoin will never be more than 276^3.

There will never be more than 276^3 #Bitcoin. — Michael Saylor⚡️ (@saylor) April 2, 2024

Technically wrong, mathematically correct

Using normal math, the 276^3 estimate gives a value of 21,024,576. While this is mathematically correct, Saylor's statement about the total supply of Bitcoin is technically incorrect.

According to Satoshi Nakamoto's original Bitcoin design, only 21 million BTC units can ever be issued. Bitcoin currently has 19,671,900 BTC in circulation, leaving only about 1,328,100 BTC units left to mine.

Michael Saylor's memory can also be described as a call to buy the coin, as he and other great proponents such as “Rich Dad Poor Dad” Robert Kiyosaki have always done. With the next Bitcoin halving, the issuance rate of the digital currency will be reduced by half, making any possible accumulation measure more expensive.

The remaining 1.3 million Bitcoin units will not be released until 2,140; However, there will be no extension of this number.

Perfect example

Michael Saylor is considered a perfect example for those considering storing Bitcoin as his company MicroStrategy has been a consistent BTC buyer since 2020.

To date, MicroStrategy has accumulated more than 214,000 Bitcoin units, with the business intelligence and software company even issuing convertible notes with different maturity dates to introduce them to the digital currency.

So far, MicroStrategy has taken the position of a Bitcoin evangelist, a role that complements that of market leaders such as Samson Mow. Although there is no way to measure the impact of contributions to X, Michael Saylor's stance on maintaining his Bitcoin bets has helped many HODLers stick to their beliefs.

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