Is Bitcoin’s 21 million cap secure and unchangeable?
Blockstream CEO Adam Back has confirmed that Bitcoin’s 21 million cap is not under threat, responding to concerns raised by the crypto community after BlackRock published a disclaimer in a Bitcoin tutorial.
Alright I went and watched the video, the voice over and text says 21 million cap etc then if you freeze frame unvoiced disclaimer there’s no guarantee that could not change. Obviously their lawyers made them write that as they sell investment products and they don’t have control
— Adam Back (@adam3us) December 19, 2024
Back sees this reference as just a legal precaution by the company, which has no control over Bitcoin’s policies or rules.
Bitcoin’s scarcity is a key component of its value, making it unique compared to fiat currencies and inflationary cryptocurrencies.
Despite the speculation, Back has insisted that the community will not change the supply cap, as it would go against the currency’s core principles.
Charlie Shrem, one of Bitcoin’s early advocates, also stressed that any change to the 21 million cap would completely change the nature of Bitcoin, making it lose its status as the world’s largest cryptocurrency.