BlackRock, the largest asset manager in the world, has spoken about Bitcoin and its intrinsic value. Among the various things said, BlackRock also highlighted the limited supply of BTC, stating that:
“if every millionaire in the United States asked their financial advisor to get them 1 BTC, there wouldn’t be enough”
BlackRock: the current supply of BTC does not meet the potential demand of millionaires in the USA
BlackRock, the largest asset manager in the world, described some characteristics of Bitcoin in a recent article: “Why bitcoin? A perspective from model portfolio builders”
In practice, as multi-asset portfolio builders, BlackRock analysts have presented bitcoin as a source of investment value in the long term for some investors, as well as a diversification asset for some portfolios.
Moving forward, what caught the eye was a consideration that the manager of 11.5 trillion dollars in assets said:
“To illustrate how few bitcoins are available, if every millionaire in the United States asked their financial advisor to get them 1 bitcoin, there wouldn’t be enough.”
The asset manager highlights how the supply of BTC is not sufficient to cover the potential demand from millionaires.
This happens because the pre-programmed maximum supply of BTC is 21 million tokens, which will be issued until 2140. BlackRock also points out that of these tokens, it is estimated that 3-4 million bitcoins issued visible on the blockchain are considered permanently inaccessible. These would be the tokens that have gone out of circulation, perhaps due to lost, forgotten, or otherwise destroyed keys.
In this sense, BlackRock highlights the difference with gold, to which BTC is often compared, stating in fact that for bitcoin there is no possibility to meet excess demand with an increase in supply.
BlackRock and the launch of a Bitcoin ETP in Europe
Last month, BlackRock made headlines for also having launched a Bitcoin ETP in Europe.
The choice of an ETP (or Exchange-Traded Products) and not an ETF is based on the territory. In the European market, it seems that ETPs are more widespread financial instruments, and they offer direct exposure to the price of Bitcoin without requiring direct holding of the asset.
On the contrary, in fact, an ETF (or Exchange Traded-Fund) represents, instead, a fund that replicates the performance of the asset or a basket of assets.
Therefore, in Europe, ETPs on Bitcoin are more common and are used to provide regulated exposure to crypto. This instrument also allows investors to trade BTC through traditional markets, without having to directly manage the custody of the digital asset.
At the same time, BlackRock’s decision to focus on Europe might be due to its more structured regulatory approach compared to other regions.
In fact, the countries of Europe have already adopted clear regulations on financial instruments based on crypto, encouraging the entry of institutional investors.
The price of BTC makes a small jump
In the last 24 hours, the price of Bitcoin (BTC) seems to have recorded a small jump. It is a pump of +5%, which has brought the price of BTC to $87,500, at the time of writing.
This current price is definitely a small sign of recovery after the February crash, with the monthly minimum of BTC recorded on February 28, at the price of $79,000.
In these early days of March, instead, BTC had managed to climb up to $94,000 before oscillating to the current price.
Source: https://en.cryptonomist.ch/2025/03/05/blackrock-there-are-not-enough-bitcoin-btc-for-every-millionaire-in-the-usa/