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A Bitcoin Shortage? PayPal and Cash App Buying More Than 100% of New Supply
When demand from these two sources alone exceeds the entire supply of newly minted bitcoins, expect serious supply pressure to follow.
When demand from these two sources alone exceeds the entire supply of newly minted bitcoins, expect serious supply pressure to follow.
STORY CONTINUES BELOW
For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica, iHeartRadio or RSS.
This episode is sponsored by Crypto.com and Nexo.io.
Today on the Brief:
- AstraZeneca and University of Oxford release third positive COVID-19 vaccine trial data
- Trump administration ratchets up pressure on China
- Another DCEP lottery trial coming
Our main discussion: a narrative shift, growing attention and a bitcoin shortage.
What happens when demand exceeds supply and supply is being gobbled up aggressively by new market actors? That’s the question posed by Pantera’s recent investor letter and today’s Breakdown episode.
NLW also looks at:
- The reappearance of bitcoin in mainstream media, like today’s Wall Street Journal
- The rise of celebrities coming out as HODLers
- BlackRock’s CIO suggests bitcoin could replace gold for many
See also: Bitcoin Shortage? Pantera Thinks Market Rally Driven by PayPal Buys
For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica, iHeartRadio or RSS.
Note: The views expressed in this column are those of the author and do not necessarily reflect those of CoinDesk, Inc. or its owners and affiliates.
Nathaniel Whittemore
NLW is an independent strategy and communications consultant for leading crypto companies as well as host of The Breakdown – the fastest-growing podcast in crypto. Whittemore has been a VC with Learn Capital, was on the founding team of Change.org, and founded a program design center at his alma mater Northwestern University that helped inspire the largest donation in the school’s history.
