Bitcoin developer Peter Todd's proposal to give miners a permanent stream of new bitcoin has triggered a fresh backlash from users who see the 21 million supply limit as the asset's most important promise. The fuse was lit when Bitcoin++ posted Todd's July 23 Toronto talk, “Tail Emissions and Demurrage,” on Aug. 14.
I don't think Bitcoin is ever going to go back below $60,000. I think forever “I think the base case for Bitcoin is basically that you get higher lows, and you do have these run-ups that happen roughly every four years.
Publicly listed / traded Bitcoin mining companies have reportedly reduced their dedicated computational capacity more rapidly than the broader network, as a growing number shift electricity and data-center resources toward artificial intelligence and high-performance computing applications.
Bitcoin's circulating supply has reached approximately 20.07 million coins, leaving roughly 929,465 BTC still to be issued under the protocol's hard cap of 21 million.
The 7,500-BTC holder's filing separates a noncash crypto loss from equity sales that supported its operating runway.
The proposal remains pending, while ETHU's sponsor-reported -96.15% average annualized NAV figure through June 30 shows the stakes.
Bloomberg Intelligence Senior Commodity Strategist Mike McGlone has updated his medium-term Bitcoin forecast, warning investors about the risk of a major price correction. While the U.S. stock market, represented by the Nasdaq and S&P 500, is reaching new all-time highs, the leading cryptocurrency continues to lag behind equities.
World Gold Council CEO David Tait says bitcoin is headed for zero because the supposed hedge keeps showing up as high-beta risk when markets turn ugly. Tait made the call in a Consensus Miami interview with David Lin, posted on Youtube later that month, and has recently gone viral on social media.
Bitcoin at $63K tests World Gold Council's zero call as Wall Street trims its bullish price targets.
Michael Saylor said Strategy's STRC preferred stock gained 9% over one year while bitcoin lost 47%. The chart leaves out the company's common stock, which closed roughly 76% below its level a year earlier.
Small positive offshore funding exposes longs on a drop, while CME leveraged funds' net short creates an upside squeeze channel.
The 21 million bitcoin cap is back in the debate. Developer Peter Todd advocates for a permanent issuance to continue remunerating miners after 2140.