Crypto expert: Bitcoin will be ‘more scarce than gold’
As Bitcoin (BTC) surpassed the critical $43,000 level and even briefly crossed the $44,000 mark several times in the last 24 hours, CNBC’s Fast Money trader and cryptocurrency investor Brian Kelly has shared his thoughts on the future of the flagship decentralized finance (DeFi) asset. Indeed, Kelly said that, after the upcoming Bitcoin halving in spring 2024, the supply of the maiden crypto asset would become more limited, making it the first asset in history to become scarce r than gold, as he explained in an episode of Fast Money streamed on December 4. According to Kelly, historical trends show that Bitcoin’s best performance ensues 12 to 16 months after the halving. However, he said that this time might be different as the price of Bitcoin is higher, and there is not a lot of it coming out per day – only about 900 BTC. On the other hand: “But, what it does do is make Bitcoin more scarce than gold. So, for the first time in history, you have an asset that is more scarce ...