How A Bitcoin Supply Crunch Could Push The Price To $100,000

Bitcoin’s supply is capped at 21 million units, a characteristic that has drawn the interest of countless investors as evidenced by the more than $25 billion flowing into spot exchange-traded funds (ETFs) since the beginning of the year.

This surge in demand is occuring at a time when bitcoin’s supply is becoming increasingly constrained. More than 19 million units of the digital currency have been mined and the percentage of bitcoin available for trading on exchanges recently fell to the lowest amount in more than six years, according to Glassnode data.

Plus, the amount of new bitcoin issued by the network will drop from 900 to 450 units per day this month as part of a pre-programmed supply reduction called the “halving,” which occurs every four years. The halving is scheduled to occur on April 16, 2024, according to Coinbase. All of these factors could lead bitcoin’s price to top $100,000 by the end of 2024.