Bitcoin is headed for a supply shortage — and that will keep pushing up prices

Over the past 12 years, we’ve watched bitcoin’s (BTCUSD) evolution from netherworld currency to major institutional commodity.
  • About 900 new bitcoin are mined daily, and three market participants alone — PayPal, Square, and Grayscale Bitcoin Trust — purchase considerably more than 900 bitcoin a day because of high investor demand.

If this dynamic continues, and we believe it will, much higher prices lie ahead for the dominant cryptocurrency.