Bitcoin

How Rising Bitcoin Holdings of May Push BTC Price Up Significantly

The cryptocurrency industry was born during the fallout of the 2008 economic crisis that caused the Great Recession. Satoshi Nakamoto designed Bitcoin as the first-ever cryptocurrency with the goal of removing the control governments and banks had over individual’s funds.

Nakamoto designed the BTC supply to have a hard cap so that the cryptocurrency would have a deflationary attribute, but the limited supply also has a dramatic effect on Bitcoin price due to the ebb and flow of demand.

Intermediaries currently control as much as 16% of the BTC supply already, just ten years into the crypto’s life, and the percentage of control will only increase from here due to the influx of banks, businesses, and more trying to get a piece of the emerging crypto market.

But what implications will such control over the BTC supply have on Bitcoin price? And does this control go against everything Bitcoin itself stands for…

Continue reading at NEWSBTC.com

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