The 21M Bitcoin Limit: Fact or Myth?
BlackRock questioned ! đ€Ż
On December 17, 2024, BlackRock, the worldâs largest fund manager, cast doubt on Bitcoin's 21 million supply cap, claiming it isn't guaranteed to remain fixed.
This raised concerns in the crypto community about Bitcoin's scarcity, value, and network security.
Technically, altering the supply cap would require a hard fork and widespread consensus.
However, experts argue this would fundamentally change Bitcoin's nature.
Super Testnet, creator of BitVM, emphasized, âWithout the supply limit, itâs no longer Bitcoin.â
The 21 million limit ensures Bitcoin's scarcity and underpins its value.
Critics warn a change could undermine miner incentives, threaten network security, and shake investor confidence, particularly as block rewards halve further in 2028.
Reactions were divided. Some dismissed the likelihood of a change, while others suggested BlackRock's statements reflected a deeper understanding of Bitcoin.
Market volatility surged, with parallels drawn to the 2016-2017 Blocksize Wars, when the Bitcoin community resisted similar significant changes.
While Bitcoinâs decentralized governance safeguards it from external pressures, BlackRockâs influence highlights growing institutional sway, raising questions about decentralization's future.
Mr.WealthWave
