“There’s little doubt Bitcoin is the most fluid, 24/7 global trading vehicle in history and well on its way to becoming digital collateral in a world going that way,” said Bloomberg Intelligence senior commodity strategist Mike McGlone.
What’s different from past post-supply cut years, 2013 , is the newly mined Bitcoins will decline to about 1.7% of the amount outstanding for the first time in 2023, vs.
Last week, Bitcoin hit a new milestone, with records showing that 19 million Bitcoins have been minted so far.
Russia’s invasion of Ukraine could be an important moment for Bitcoin and its volatility levels.
“A key uncertainty for Bitcoin’s future is adoption, and we see little to stop the process of the benchmark crypto becoming global digital collateral,” McGlone noted.