re: Why is Bitcoin soaring?

If you are just attempting to figure out BTC at this point, you are late to the dance......VERY LATE.

You had better do some video watching and open your mind to a different way of thinking about money.

The good news is it is never too late.

The real news is BTC has finally received world wide approval. Countries own BTC, Blackrock and the likes own BTC, many individuals own BTC.

It all lies in the fact that there is finally an asset that has LIMITED supply. Every other asset, FIAT currency (any countries), Gold, you name it has ALWAYS been leveraged and printed into uselessness.

BTC has a finite amount (21M) of which ~5M have been lost forever (think of that thumb drive you had in 2007 that happen to have stupid files on it that was thrown away, or people with large amounts simply lost the passwords to where they were stored it, or someone died and nobody else had access). GONE.

From today until the year 2140, about 1.4M are left to be mined. There are about 2M currently in circulation with people actually willing to sell and the 13.5M that haven't moved in a long time.

So, with about 2M up for grabs, and 900 being mined daily, there are about 9000 / day being bought up and that is increasing daily. That means there is only about 225 days (7 Mos) at this rate, and oh by the way the rate of production gets cut in 1/2 (halving) in mid April.

People in the know are actually shocked that there are any up for sale at this time.

10/10 people have heard about BTC
8/10 want nothing to do with it.
2/10 dabble in it
1/1000 actually are buying it.

With only 2M up for grabs effectively, there are 90% of the millionaires in the world can't own a single BTC.

Think of this as the 1923's when the FED created the Fed Res, but instead of big money holding the power, retailers hold the power and big banks and countries are just trying to get in now.