Bitcoin's Scarcity Is Driving Demand and Pushing Prices Higher

Bitwise CEO Hunter Horsley has put Bitcoin's scarcity in focus. By highlighting rapidly shifting market dynamics.

Benzinga - The scarcity of Bitcoin (CRYPTO: BTC) has been a subject of interest as the asset continues to accrue value.

This celebrated scarcity was brought into focus by Bitwise CEO Hunter Horsley, who highlighted rapidly shifting market dynamics.

"They're mining about 165k BTC this year. In Q1 alone, public companies bought 95k BTC. At this pace, there won't be enough Bitcoin for everyone who wants it. Interesting times," Horsley said on X (formerly Twitter).

In response to Horsley, Fundstrat Chief Investment Officer Tom Lee said that this dynamic may be accelerating, and the market dynamic is likely to put bullish pressure on the asset’s price.

"Hunter is right- interesting times indeed! But maybe the interesting times are *accelerating

. Last week, saw a few large BTC purchases (liabilities/claims):

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This is on top of the persistent demand from miners, ETFs (liabilities/claims) had a record week of inflows of $3.3B (liabilities/claims) and several institutions are buying on any dip (liabilities/claims)