
Both ends of the curve agree — there’s not enough bitcoin for everyone
This is a segment from the Supply Shock newsletter. To read full editions, subscribe. Bitcoin at $120,000 is a win for everyone on the left and right sides of the infamous bell curve meme. Mid-curving is almost never the optimal strategy. Except for, perhaps, very specific points in a cycle — particularly in deep bear markets, when vibes and narratives are less powerful. Right now, the extreme ends of the bell curve are both screaming one thing: There’s not enough bitcoin for everyone. For example, the left-curve take on bitcoin scarcity goes something like this: Bitcoin is currently only programmed…








