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Investing.com – El Salvador’s President Nayib Bukele, one of Bitcoin’s staunchest proponents, who has made it an official currency in the country, today revisited one of Bitcoin’s most often cited benefits. its followers, namely the finite quantity.
Remember that the Bitcoin source code provides that there will never be more than 21 million Bitcoin issued.
In a tweet, Bukele therefore pointed out that there are currently 50 million millionaires in the world, and imagined a scenario where each of them would decide to buy at least one. He thus naturally recalled that it is impossible, since there will never be enough Bitcoin for “even half of them”.
He therefore deduced that a “giant rise in price is only a matter of time”.
Recall that Bitcoin enthusiasts often highlight this voluntary limit of Bitcoin, which constitutes an advantage compared to traditional national currencies which can lose value as central banks “turn the printing press” within the framework of the ultra-loose monetary policies.
Moreover, expectations that central banks, and in particular the Fed, will soon tighten monetary policy have been the main factor behind Bitcoin’s decline in recent weeks.
Against this backdrop, cryptocurrency investors will be keeping a close eye this week on Thursday’s ECB monetary policy meeting, and Friday’s US NFP employment report, which could influence the next Fed meeting for which a rate hike of 0.25% is anticipated.
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