- Bitcoin nears its 21 million coin limit, with only 5.5% left to mine.
- U.S. crypto reserve plan increases competition for remaining Bitcoin supply.
- Bitcoin’s price surged 5.51%, reaching $91,676.47 with rising market activity.
Bitcoin is inching closer to its maximum supply of 21 million coins. Around 94.5% of the total has been mined, leaving just 5.5% yet to be extracted. This move spotlights Bitcoin’s built-in scarcity, solidifying its status as a store of value akin to digital gold.
Bitcoin Halving & Supply Crunch Attract Investors
Bitcoin’s limited supply and its upcoming halving event are grabbing attention from investors and institutions. With only a fraction of the supply remaining, the digital currency’s scarcity could push prices higher.
Related: Trump’s Crypto Reserve vs. US Data: Will This Week’s News Drive Bitcoin?
The upcoming halving event is expected to reduce the rate of new Bitcoin entering circulation, potentially ramping up volatility and boosting interest in the cryptocurrency. Historically, similar supply tightenings have been followed by price gains.
US Bitcoin Reserve: A New Demand Factor
Adding another dimension to Bitcoin’s future, the U.S. government is weighing the possibility of creating a national crypto reserve, potentially including Bitcoin, among other cryptocurrencies.
The announcement was made by the U.S. President Donald Trump, who stated that this move is part of his administration’s efforts to establish the United States as the crypto capital of the world.
This move could intensify competition for the remaining Bitcoin, driving market demand. Following the announcement, the value of several cryptocurrencies, including Bitcoin, jumped as market sentiment turned bullish.
Bitcoin Price Surge
Bitcoin’s price has moved upwards since.
According to the latest data, Bitcoin’s price has reached $91,676.47, marking a 5.51% increase over the past day. This surge is paired with a 24-hour trading volume of $50.62 billion, indicating heightened trading activity and positive market sentiment.
Related: Bitcoin Hits 19.8 Million Mined Units: What’s Next for Its Supply Cap?
Despite a 15.22% drop in trading volume compared to the previous day, the volume-to-market-cap ratio remains at 2.84%, suggesting solid liquidity in the market.
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