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Opinion

A Bitcoin Shortage? PayPal and Cash App Buying More Than 100% of New Supply

When demand from these two sources alone exceeds the entire supply of newly minted bitcoins, expect serious supply pressure to follow.

By Nathaniel Whittemore
AccessTimeIconNov 23, 2020 at 8:00 p.m. UTC
Updated Sep 14, 2021 at 10:34 a.m. UTC
AccessTimeIconNov 23, 2020 at 8:00 p.m. UTCUpdated Sep 14, 2021 at 10:34 a.m. UTC
Breakdown 11.23 bitcoin shortage
AccessTimeIconNov 23, 2020 at 8:00 p.m. UTCUpdated Sep 14, 2021 at 10:34 a.m. UTC

When demand from these two sources alone exceeds the entire supply of newly minted bitcoins, expect serious supply pressure to follow.

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This episode is sponsored by Crypto.com and Nexo.io.

Today on the Brief:

  • AstraZeneca and University of Oxford release third positive COVID-19 vaccine trial data
  • Trump administration ratchets up pressure on China 
  • Another DCEP lottery trial coming 

Our main discussion: a narrative shift, growing attention and a bitcoin shortage.

What happens when demand exceeds supply and supply is being gobbled up aggressively by new market actors? That’s the question posed by Pantera’s recent investor letter and today’s Breakdown episode. 

NLW also looks at:

  • The reappearance of bitcoin in mainstream media, like today’s Wall Street Journal
  • The rise of celebrities coming out as HODLers
  • BlackRock’s CIO suggests bitcoin could replace gold for many

See also: Bitcoin Shortage? Pantera Thinks Market Rally Driven by PayPal Buys

For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica, iHeartRadio or RSS.

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