Scarcity sets a ceiling on supply, not a floor under price. Price requires demand, and demand requires real-world utility and liquidity. The 21M cap makes Bitcoin's supply the one thing you never have to forecast — but forecasting demand is the whole game. A hard cap with zero demand is just a supply that nobody wants.
Scarcity sets a ceiling on supply, not a floor under price. Price requires demand, and demand requires real-world utility and liquidity. The 21M cap makes Bitcoin's supply the one thing you never have to forecast — but forecasting demand is the whole game. A hard cap with zero demand is just a supply that nobody wants.