Austin from Altcoin Daily says Bitcoin’s limited supply cap means you only need 0.01 unit of BTC. In 10 years Bitcoin’s finite supply will be nearly exhausted, meaning holders might only need 0.01 BTC to become filthy rich.
0.01 Bitcoin might only cost $500 today, but current trends in global wealth distribution and the inevitable realisation of Bitcoin limited supply could result in 0.01 BTC being worth $1m in the future.
Bitcoin’s current total supply consists of 18.64 million BTC, leaving 2.37 million coins to be mined as of March 1st. In 10 years, the supply will reach 20.6 million or 98% of the 21 million coins from the total supply. Data show people are going to be fighting for small amounts of Bitcoin, resulting in a mere 0.01 BTC per adult assuming supply is evenly distributed (1:30).
Purchasing 0.01 BTC today, roughly a $500 investment at current prices can assure one a top 13% holder position in the future.
Publicly traded company worth $10 billion disclosed they invested millions in Ethereum. Meitu, a Chinese photo retouching app listed in Hong Kong, announced it has purchased $40 million worth-of BTC and ETH. The mobile app is one of the most popular mobile apps in China with nearly 300 million in self-reported monthly active users as of June 2020. Meitu is also evaluating the feasibility of launching Ethereum-based decentralized applications (7:03).
On Chain data shows whales are accumulating Ethereum as ETH rebounded above $1685 for the first time in 10 days. Whales who own minimum of 10k units of Ethereum now hold 68.6% of the total supply, the highest percentage owned by whales since November 2017.
The alt coins segment covered Atari (the gaming company behind Pacman, Asteroids and Pong) is to develop a cryptocurrency casino in partnership with Decentral Games (13:41).
Uniswap’s based asset, UNI surges 50% in one week, becomes first DeFi DApp token in crypto’s top 10. The Uniswap governance token has become the first DeFi token to rank among the ten-largest crypto assets by market capitalisation (15:00).
Taco Bell rides NFT hype train with collectibles digital tacos after dropping a collection of Taco-themed digital collectibles and they have all sold out (15:37).
This episode premiered on March 9th, 2021.