Post Number: 3475
Posted From: 22.214.171.124
Votes: 0 (Vote!)
|Posted on Thursday, April 22, 2021 - 1:23 pm: ||
1. With total Bitcoin supply constrained by a 21mn coin output cap and supply growth falling due to the halving of miner rewards, Francisco Blanch, head of Global Commodities and Derivatives finds that demand drives most price swings.
2. As such, modestly sized institutional purchases have likely been a key driver of the recent price rally. He also argues that Bitcoin is an impractical store of wealth or payments.
3. On the one hand, its complex crypto-mining settlement process can handle just 14k transactions per hour relative to Visa’s 236mn, and transaction costs can often exceed $20.