- January 7, 2025
- Posted by: admin
- Category: BitCoin, Blockchain, Cryptocurrency, Investments
The post Michael Saylor’s Bold Proposal: Burning Bitcoin Keys for Long-Term Scarcity appeared first on Coinpedia Fintech News
MicroStrategy chairman Michael Saylor proposes burning Bitcoin private keys after death to permanently remove coins from circulation, boosting Bitcoin’s scarcity. With a fixed supply of 21 million coins, Bitcoin’s value thrives on limited availability. Saylor’s idea could tighten the circulating supply, mirroring the impact of dormant coins like Satoshi Nakamoto’s 1 million BTC. Advocating for Bitcoin as a scarce, long-term asset, Saylor believes this approach could elevate its value. If widely adopted, this strategy might reshape Bitcoin’s future by reinforcing scarcity and driving increased demand for the remaining coins.
