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MicroStrategy Chair Michael Saylor has warned that the opportunity for individuals to accumulate Bitcoin will not last forever.
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According to Saylor, the clock started on the Bitcoin rush with institutional and corporate adoption, which has been aided by the approval and launch of spot Bitcoin exchange-traded funds.
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MicroStrategy continues to reduce the Bitcoin pie.
Bitcoin has seen growing demand in recent years, triggering comparisons to a historic period in market history: the gold rushes of the 19th-century.
Specifically, MicroStrategy (NASDAQ:MSTR) Chair Michael Saylor has dubbed the current Bitcoin market phase “the digital gold rush.” Like the physical gold rush, Saylor has warned that the opportunity for individuals to accumulate Bitcoin will not last forever.
“The digital gold rush ends ~January 7, 2035,” Saylor said on Sunday. “Get your Bitcoin before there is no Bitcoin left for you.”
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It is not the first time that Saylor has expressed this sentiment. He also said this during a speech at the H.C. Wainwright 26th Annual Global Investment Conference in September. At the time, he said that the provided timeline was “the point of absolute scarcity,” when 99% of all Bitcoin, about 20.8 million of the 21 million coins, would have been mined, with the remaining programmed to trickle in 106 years later.
According to Saylor, the clock started on the Bitcoin rush with institutional and corporate adoption, which has been aided by the approval and launch of spot Bitcoin exchange-traded funds. Indeed, Bitwise CEO Hunter Horsley said in April that about 165,000 BTC would be mined this year, adding that public corporations alone had already purchased 95,000 BTC, more than half of the expected new supply in just Q1.
“There’s simply not going to be enough Bitcoin,” he said at the time.
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Meanwhile, Bitwise investment chief Matt Hougan has said, “95% of the world’s largest investors have zero exposure to bitcoin, but 95% of all bitcoin is already owned,” also highlighting the growing scarcity of the asset.
