Wed Mar 05 21:50:00 UTC 2025: ## BlackRock: Not Enough Bitcoin for US Millionaires
**NEW YORK** – BlackRock, the world’s largest asset manager, asserts that the existing supply of Bitcoin (BTC) is insufficient to meet the demand from just American millionaires alone. In a new report, analysts Michael Gates and Brett Wager highlight Bitcoin’s inelastic supply, unlike gold, which can increase its supply to meet demand. Bitcoin’s fixed supply of 21 million coins, along with a significant portion considered lost or inaccessible, creates a scarcity that could severely limit its potential adoption. The report estimates only 3 to 4 million BTC are readily available.
BlackRock’s Model Portfolio Solutions team identifies several factors supporting Bitcoin’s long-term investment value, including its potential as a store of value, a hedge against US dollar dominance, and a play on the shift to digital goods and services. These factors, the report argues, could contribute to Bitcoin’s risk premium and diversification potential within traditional investment portfolios. At the time of this report, Bitcoin was trading at $85,381. The analysis underscores the growing institutional interest in Bitcoin and highlights the potential for significant price appreciation given its limited supply and increasing demand.
First Piper 