2375: $100T Bitcoin Scarcity - There Aren't Enough Coins

**Justin Verrengia** (0:00)
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**SPEAKER_2** (0:24)
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**Justin Verrengia** (1:22)
Everybody thinks Bitcoin is scarce.
I don't think they understand how scarce Bitcoin truly is. That's the difference. 100 trillion, that's where this ends. The problem, there aren't enough coins. Not for Wall Street, not for corporations, not for governments, not for nations, and definitely not for everyone who still thinks they have plenty of time. That's the reality. Few people want to talk about Bitcoin supply never changes. 21 million, that's it. No central bank can print more. No government can create more. No CEO can issue more. The supply is fixed, but demand isn't. Demand keeps growing, and the list of buyers keeps getting bigger. Michael Saylor is still buying. In fact, he just posted the Strategy Tracker, signaling another Bitcoin purchase announcement will arrive tomorrow, on Monday. Adam Back, still buying. Treasury companies, still buying. ETFs, still buying. In fact, they're launching additional products, as we saw last week, three new products. One was from BlackRock, their new Bitcoin Income ETF, and also Goldman Sachs announced two new Bitcoin ETFs. So, long-term holders continue accumulating, and according to K33, long-term holders now control a record 79% of the total Bitcoin supply.
Think about that. The people who understand Bitcoin the most are holding more coins than ever before. Go figure. And at the same time, new buyers continue entering that market. That's why Samson Mao believes a supply shock is coming. Not because Bitcoin changed, because the buyers changed, the scale changed, the game changed. Just look at the opportunity. Some estimates place the value of AI-related companies above $150 trillion.
Meanwhile, Pantera CEO says, it's inevitable that China, Russia and the Middle East eventually hold trillions of dollars worth the Bitcoin. Think about what that means. We're no longer talking about retail investors. We're no longer talking about hedge funds. We're talking about nations. We're talking about strategic reserves. We're talking about a world where countries begin asking the same question individual investors asked years ago. What asset can nobody debase? What asset can nobody censor? What asset can nobody print? That's where the $100 trillion thesis comes from. Not from hype, not from hope, from capital, from incentives and mathematics. Because every year more buyers arrive and every year fewer coins remain available. Meanwhile, Saylor's company now holds 846,842 Bitcoin. More than 4% of the entire supply.
One company, one balance sheet, one buyer. Now imagine what happens if dozens of companies follow the same path. Imagine what happens if sovereign wealth funds follow the same path. Imagine what happens if nations follow the same path. That's why the real story isn't Bitcoin's price. The real story is Bitcoin's availability. Because once buyers realize there aren't enough coins for everyone, the conversation changes. The question stops being, should I buy Bitcoin? And becomes, can I still get any? And that's when supply shocks happen. And by the time most people recognize it, there aren't enough coins left to matter. Supply doesn't move. Demand does. And right now, the buyers keep coming. Take a look at this. Samson Mao, I want to talk to Samson, says Saylor and Adam Back are about to buy so much Bitcoin, they will set off a supply shock. I say, send it. Saylor is setting in the floor for everything and averaging down, which is really insane in the membrane. Treasury companies are buyers of The Last Resort and will always buy Bitcoin. Billion dollar buys are still on the sideline. Brand new clip from Samson.