According to U.Today, Michael Saylor, the cofounder and chairman of MicroStrategy, recently made a statement about Bitcoin's (BTC) scarcity on his official Twitter account. He claimed that the total issuance of Bitcoin will never exceed 276^3. However, this estimation, while mathematically correct, is technically incorrect in terms of Bitcoin's total supply.
The figure of 276^3 equates to 21,024,576. However, according to the original design of Bitcoin by Satoshi Nakamoto, only 21 million BTC units can ever be issued. Currently, the circulating supply of Bitcoin is 19,671,900 BTC, leaving only about 1,328,100 BTC units left for mining.
Saylor's statement can be seen as a call to action to purchase Bitcoin, a sentiment echoed by other major proponents such as Robert Kiyosaki, author of 'Rich Dad Poor Dad'. The upcoming Bitcoin halving event will reduce the rate of emission of the digital currency by half, making any potential accumulation move more expensive. The remaining 1.3 million Bitcoin units will not be released until 2140, and there will be no increase in this number.
Saylor's firm, MicroStrategy, has been a consistent buyer of Bitcoin since 2020, accumulating more than 214,000 Bitcoin units. The business intelligence and software firm has even issued Convertible Senior Notes with different maturity dates to invest in the digital currency.
MicroStrategy has positioned itself as a Bitcoin evangelist, a role that complements those of market leaders like Samson Mow. While the impact of Saylor's posts on Twitter is immeasurable, his commitment to maintaining his Bitcoin investments has encouraged many Bitcoin holders to stick to their convictions.
