CZ Warns Millionaires May Soon Be Unable to Afford a Single Bitcoin

Changpeng Zhao, more commonly known as CZ, has rekindled one of the old arguments that the Bitcoin community started about a decade ago – there comes a point where even millionaires might not be able to afford a single Bitcoin. His warning encapsulates the idea that Bitcoin’s supply is extremely limited but, at the same time, there are a growing number of affluent investors.

While the BTC▲$62,630.00 price forecast that CZ provided with his comment has little basis in reality, the scarcity premise he outlined is entirely logical. Bitcoin supply cannot grow beyond 21 million coins, but there are already more millionaires than there could ever be Bitcoins. It means that, at some point, demand for a single whole coin is bound to surpass the existing supply.

What CZ Said About Bitcoin Scarcity

CZ Says Millionaires May Soon Struggle to Own 1 Bitcoin

CZ warned that demand for whole Bitcoin would eventually overcome its limited supply. His point was that there comes a point where even millennial millionaires will struggle to afford a single coin because there are only ever 21 million Bitcoins.

The CZ Bitcoin warning highlights the value of limited supply because it demonstrates that whole ownership of a scarce asset is inherently inflationary. It means that, at some point, demand for owning a whole Bitcoin will outweigh the existing supply.