- Thailand approves first spot Bitcoin ETF.
Great news - first they banned Bitcoin as a means of payment, but they don't mind trading through ETFs - is that called adaptation or?
Hypocrisy?
When supply shock? Bears are about to get fucked, hard.
When I last looked at the liquidity data on CEXs, it said that they had about 1.8 million BTC - and regardless of the accuracy of the data, I think that the supply shock that has been talked about for years is not yet in sight.
According to
Coinglass it's ~2.5m currently.
But IMHO only a small percentage of that balance is actually in the orderbooks and their owners willing to let these coins change hands. Also the amount decreases quickly and seems to be at an all time low right now:
To demonstrate to a coiner friend where we currently are in Bitcoin supply/inflation life, I created a tiny script to output supply, supply % and halving year:
Halving 1 in 2012 (at block # 210000) supply: 10500000.0000 (50.000%)
Halving 2 in 2016 (at block # 420000) supply: 15750000.0000 (75.000%)
Halving 3 in 2020 (at block # 630000) supply: 18375000.0000 (87.500%)
Halving 4 in 2024 (at block # 840000) supply: 19687500.0000 (93.750%)
Halving 5 in 2028 (at block # 1050000) supply: 20343750.0000 (96.875%)
Halving 6 in 2032 (at block # 1260000) supply: 20671875.0000 (98.438%)
Halving 7 in 2036 (at block # 1470000) supply: 20835937.5000 (99.219%)
Halving 8 in 2040 (at block # 1680000) supply: 20917968.7500 (99.609%)
Halving 9 in 2044 (at block # 1890000) supply: 20958984.3750 (99.805%)
Halving 10 in 2048 (at block # 2100000) supply: 20979492.1875 (99.902%)
Halving 11 in 2052 (at block # 2310000) supply: 20989746.0927 (99.951%)
Halving 12 in 2056 (at block # 2520000) supply: 20994873.0453 (99.976%)
Halving 13 in 2060 (at block # 2730000) supply: 20997436.5216 (99.988%)
Halving 14 in 2064 (at block # 2940000) supply: 20998718.2587 (99.994%)
Halving 15 in 2068 (at block # 3150000) supply: 20999359.1262 (99.997%)
Halving 16 in 2072 (at block # 3360000) supply: 20999679.5589 (99.998%)
Halving 17 in 2076 (at block # 3570000) supply: 20999839.7742 (99.999%)
Halving 18 in 2080 (at block # 3780000) supply: 20999919.8808 (100.000%)
Halving 19 in 2084 (at block # 3990000) supply: 20999959.9341 (100.000%)
Halving 20 in 2088 (at block # 4200000) supply: 20999979.9597 (100.000%)
Right now we're at 93.84% of supply mined and the demand from institutional money is at record heights, I am none the wiser than you but I have a feeling the much bespoken supply shock is very close (rather weeks or months but not years I'd say).
