Bitcoin (BTC) reached an all-time high price of $69,045 on November 10, 2021, as well as an all-time high market cap of $1.302 trillion on the same day. Bitcoin is usually promoted as ‘digital gold’, due to having a programmed distribution and limited max supply of 21 million BTC — which can, theoretically, make it a great Store of Value (SoV) long term.
However, even with such highlighted good economic fundamentals, BTC is still affected by its supply inflation, while the 21 million units have not been fully distributed to Bitcoin Miners.
Considering data retrieved by Finbold on September 5, with a current circulating supply of around 19.48 million BTC, one Bitcoin would be worth close to $66,838 — $2,207 (3.19%) less than its price all-time high in US dollars.
Bitcoin Market Cap All-Time High on November 10, 2021. Source: TradingView
Moreover, market capitalization is usually used to measure the market’s perception of value in a given asset, as well as its speculative dem
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